Guideline Value for A V M Avenue 2nd Street

A V M Avenue 2nd Street guideline value

The current guideline value of A V M Avenue 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of 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 Street has changed

The guideline value for A V M Avenue 2nd Street has seen significant changes over the years. In 2002, the guideline value was Rs 427 per sq.ft, which increased to Rs 473 per sq.ft in 2003, marking an 11% rise. The value then surged dramatically to Rs 1,450 per sq.ft in 2007, reflecting a 207% increase. Following this, the value rose to Rs 5,000 per sq.ft in 2012, representing a substantial 245% increase. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, showing a decline of 33%. The guideline value then increased significantly to Rs 5,000 per sq.ft in 2023, and most recently, it has risen to Rs 5,500 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 1188%. There are no revisions for this street in the years not mentioned in the provided data.

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 2nd Street's current value above that median.

• A V M Avenue 2nd 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 1st 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 1st Main Road: 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 Street

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, calculated 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 would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers A V M Avenue 2nd Street 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 when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of A V M Avenue 2nd Street 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 this period.

What is the land classification for A V M Avenue 2nd Street?

The land classification for A V M Avenue 2nd Street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

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.

Where is the Sub Registrar Office located for A V M Avenue 2nd Street?

The Sub Registrar Office for A V M Avenue 2nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.