Guideline Value for A V M Avenue 2nd Main Road

A V M Avenue 2nd Main Road guideline value

The current guideline value of A V M Avenue 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of A V M Avenue 2nd Main Road has changed

The guideline value of A V M Avenue 2nd Main Road has seen significant changes over the years. In 2002, the guideline value was Rs 427 per sq.ft. This increased to Rs 473 per sq.ft in 2003, marking an 11% rise. The value continued to climb, reaching Rs 1,450 per sq.ft in 2007, which was a 207% increase from the previous year. By 2012, the value was Rs 5,000 per sq.ft, reflecting a substantial 245% increase from 2007. However, it then dropped by 33% to Rs 3,350 per sq.ft in 2017.

From 2017 to 2023, the guideline value rose significantly by 49%, reaching Rs 5,000 per sq.ft. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, a 10% increase from the previous year. There are no figures available for the revisions in other years for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, making the 2024 guideline value of A V M Avenue 2nd Main Road above the median.

• A V M Avenue 1st Street: Rs 5,500 per sq.ft (2024)
• A V M Avenue 2nd Street: Rs 5,500 per sq.ft (2024)
• A V M Avenue 1st Main Road: 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 2nd 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 would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for stamp duty and registration fee would be Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers A V M Avenue 2nd Main Road?

The Sub Registrar Office covering A V M Avenue 2nd 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 is a crucial factor in the registration process of property transactions in Virugambakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it directly affects the overall costs involved in property transactions. Proper understanding of this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of A V M Avenue 2nd Main Road?

The current guideline value of A V M Avenue 2nd 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 significantly from Rs 427 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1188% over the years.

What is the stamp duty for property in A V M Avenue 2nd Main Road?

The stamp duty for property in A V M Avenue 2nd Main Road is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 3,85,000.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers A V M Avenue 2nd Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using our stamp duty and registration fee calculator.