Guideline Value for A V M Avenue 1st Main Road

A V M Avenue 1st Main Road guideline value

The current guideline value of A V M Avenue 1st Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of A V M Avenue 1st Main Road has changed

The guideline value for A V M Avenue 1st Main Road has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,450 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 245% rise. However, in 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a 33% drop. The value then rose to Rs 5,000 per sq.ft in 2023, and most recently, it has increased to Rs 5,500 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 279%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing A V M Avenue 1st Main Road above this median value.

• A V M Avenue 1st Street: Rs 5,500 per sq.ft (2024)
• A V M Avenue 2nd Main Road: Rs 5,500 per sq.ft (2024)
• A V M Avenue 2nd Street: Rs 5,500 per sq.ft (2024)
• A V M Avenue 3rd Street: Rs 5,500 per sq.ft (2024)
• A V M Avenue 4th Street: Rs 5,500 per sq.ft (2024)
• A V M Avenue 5th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in A V M Avenue 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers A V M Avenue 1st Main Road?

The Sub Registrar Office that covers A V M Avenue 1st Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the official rates set by the government. This helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of A V M Avenue 1st Main Road?

The current guideline value of A V M Avenue 1st Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,450 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 279% over the years.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, which is lower than the current value of A V M Avenue 1st Main Road.

What are the stamp duty and registration fees for property in A V M Avenue 1st Main Road?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registration for A V M Avenue 1st Main Road?

The Virugambakkam Sub Registrar Office handles property registration for A V M Avenue 1st Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.