Guideline Value for Vargiswar Avenue

Vargiswar Avenue guideline value

The current guideline value of Vargiswar Avenue is Rs 3,900 per sq.ft. This street is located in Kottivakkam village under the Adayar SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Vargiswar Avenue has changed

The guideline value for Vargiswar Avenue has seen several revisions over the years. The earliest recorded revision is from 2012, which set the guideline value at Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017, and then an increase to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 3,900 per sq.ft, marking an increase of 11% from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Vargiswar Avenue.

• Vasudevan Street: Rs 3,300 per sq.ft (2024)
• Vallalal Street: Rs 3,900 per sq.ft (2024)
• Vaidegi Street: Rs 3,900 per sq.ft (2024)
• Vembulilamman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Vembulilamman Koil Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 1st Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vargiswar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vargiswar Avenue?

The Sub Registrar Office that covers Vargiswar Avenue is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kottivakkam

The guideline value plays a crucial role in the registration process of property transactions in Kottivakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vargiswar Avenue?

The current guideline value of Vargiswar Avenue is Rs 3,900 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, marking an 11% increase. It was Rs 2,345 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification for Vargiswar Avenue?

Vargiswar Avenue is classified as Residential Class II Type - I, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000. Fees are based on the higher of the guideline value or the sale price.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles the registration of properties in the area.