Guideline Value for Vatchala Avenue

Vatchala Avenue guideline value

The current guideline value of Vatchala Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kovur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Vatchala Avenue has changed

The guideline value of Vatchala Avenue has undergone several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, reflecting a decline of 33%. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, followed by a further rise to Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for Vatchala Avenue. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Vatchala Avenue.

• V.B.R. Avenue: Rs 1,650 per sq.ft (2024)
• V.B.R.Avenue Extn: Rs 1,650 per sq.ft (2024)
• Vasudevan Nagar: Rs 1,320 per sq.ft (2024)
• Vadavandai Madaveethi Street: Rs 1,650 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,650 per sq.ft (2024)
• Vgn Summerdale Phase II: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vatchala Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost of these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vatchala Avenue?

The Sub Registrar Office that covers Vatchala Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, in the Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial reference point during the registration of property transactions in Kovur. It helps determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When buying or selling property, the guideline value ensures that transactions are conducted transparently and fairly, reflecting the value of the property as per the government’s assessment.

Frequently asked questions

What is the current guideline value of Vatchala Avenue?

The current guideline value of Vatchala Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification of Vatchala Avenue?

Vatchala Avenue is classified as Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the registration office for Vatchala Avenue?

The registration office for Vatchala Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 16,50,000, the total fees would amount to Rs 1,48,500.