Guideline Value for A V M Avenue 4th Street

A V M Avenue 4th Street guideline value

The current guideline value of A V M Avenue 4th 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, and is classified as Residential Class II Type - I.

How the guideline value of A V M Avenue 4th Street has changed

Since the year 2002, the guideline value for A V M Avenue 4th Street has seen significant changes. In 2002, the guideline value was Rs 427 per sq.ft. This figure increased to Rs 473 per sq.ft in 2003, marking an 11% rise. The value continued to rise to Rs 1,100 per sq.ft in 2007, which was a 133% increase. Following that, the value surged to Rs 5,000 per sq.ft in 2012, representing a substantial 355% increase. However, in 2017, it dropped to Rs 3,350 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, before reaching the current figure of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

The overall change from 2002 to 2024 is an impressive increase of 1188%. It is important to note that there are no revisions with figures missing for this street in the register.

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 for these streets is Rs 4,400 per sq.ft, indicating that A V M Avenue 4th Street's 2024 figure is above this median.

• A V M Avenue 3rd Street: Rs 5,500 per sq.ft (2024)
• A V M Avenue 5th 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 6th 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 7th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in A V M Avenue 4th Street

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 fees together to 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers A V M Avenue 4th Street?

The Sub Registrar Office that covers A V M Avenue 4th 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 of property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure that they comply with the legal requirements during the registration of property. This helps in avoiding any disputes that may arise regarding the valuation of the property during the transaction.

Frequently asked questions

What is the current guideline value of A V M Avenue 4th Street?

The current guideline value of A V M Avenue 4th 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, showing an overall increase of 1188% over this period.

What are the stamp duty and registration fees for properties on this street?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office handles registrations for A V M Avenue 4th Street?

The Virugambakkam Sub Registrar Office handles registrations for A V M Avenue 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Virugambakkam?

The median guideline value for streets in Virugambakkam is Rs 4,400 per sq.ft, while A V M Avenue 4th Street's current value is above this median at Rs 5,500 per sq.ft.