Guideline Value for A V GARDEN

A V Garden guideline value

The current guideline value of A V Garden, located in Manapakkam village, is Rs 5,590 per sq.ft as per the 2024 revision. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification within the Chennai South Joint I SRO.

How the guideline value of A V Garden has changed

The guideline value for A V Garden has seen significant changes over the years. In the 2017 revision, the value was Rs 3,400 per sq.ft. This increased to Rs 5,075 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 5,590 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft, with a median value of Rs 2,530 per sq.ft. A V Garden's 2024 figure of Rs 5,590 per sq.ft is above this median.

• Astalakshmi Avenue 1st Street: Rs 3,300 per sq.ft (2024)
• Astalakshmi Avenue: Rs 3,300 per sq.ft (2024)
• Ashtalakshmi Joint Street: Rs 3,300 per sq.ft (2024)
• Ashtalakshmi Avenue Right Cross Street: Rs 3,300 per sq.ft (2024)
• Ashtalakshmi Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in A V Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 5,590 per sq.ft, the guideline value amounts to Rs 55,90,000. The stamp duty at 7% would be Rs 3,91,300, and the registration fee at 2% would be Rs 1,11,800, totaling Rs 5,03,100. 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 details.

Which Sub Registrar Office covers A V Garden?

A V Garden falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Manapakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration will be based on the higher of the guideline value or the agreed sale price.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value. This ensures that the government receives the appropriate revenue from property transactions, reflecting the market conditions in the area.

Frequently asked questions

What is the current guideline value of A V Garden?

The current guideline value of A V Garden is Rs 5,590 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,400 per sq.ft in 2017 to Rs 5,590 per sq.ft in 2024, showing an overall increase of 64% over this period.

What is the land classification for A V Garden?

A V Garden is classified as Residential Special Type - II according to the guideline value register.

Where can I find the registration office for A V Garden?

The registration office for A V Garden is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in A V Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 55,90,000 would incur a stamp duty of Rs 3,91,300 at a rate of 7%.