Guideline Value for A V M Avenue 3rd Street

A V M Avenue 3rd Street guideline value

The current guideline value of A V M Avenue 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of A V M Avenue 3rd Street has changed

The guideline value for A V M Avenue 3rd Street has seen several revisions over the years. In 2002, the value was Rs 427 per sq.ft, which increased to Rs 473 per sq.ft in 2003, marking an 11% rise. The value then experienced a significant increase to Rs 1,450 per sq.ft in 2007, representing a 207% change. Following this, the 2012 revision set the value at Rs 5,000 per sq.ft, a 245% increase from the previous figure. However, it dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, before reaching the current value of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register. Overall, from 2002 to 2024, the guideline value has increased by 1188%.

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 value is Rs 4,400 per sq.ft, placing A V M Avenue 3rd Street's 2024 figure above that median.

• A V M Avenue 2nd 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 2nd Main Road: Rs 5,500 per sq.ft (2024)
• A V M Avenue 5th 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 6th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in A V M Avenue 3rd Street

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers A V M Avenue 3rd Street?

The Sub Registrar Office that covers A V M Avenue 3rd 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 details.

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

The guideline value is an important factor when registering a property in Virugambakkam. It serves as a base for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buyers and sellers agree on a sale price, the guideline value will be compared to this price. The higher amount will be used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of A V M Avenue 3rd Street?

The current guideline value of A V M Avenue 3rd 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 increased 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 3rd Street?

A V M Avenue 3rd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for A V M Avenue 3rd Street?

The Virugambakkam Sub Registrar Office, which covers A V M Avenue 3rd Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated for properties in A V M Avenue 3rd Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same amount. For example, for a 1,000 sq.ft plot, the total fees can amount to Rs 4,95,000.