Guideline Value for A V M Avenue 5th Street

A V M Avenue 5th Street guideline value

The current guideline value of A V M Avenue 5th 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 5th Street has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 427 per sq.ft, which increased to Rs 473 per sq.ft in 2003, marking an 11% rise. Following this, the value surged to Rs 1,500 per sq.ft in 2007, reflecting a substantial increase of 217%. The 2012 revision saw a decrease to Rs 5,000 per sq.ft, a decline of 33%. However, the value rebounded to Rs 3,350 per sq.ft in 2017, representing a 49% increase from the previous revision. The guideline value further increased to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024, which is a 10% rise.

There are no figures available for the revisions in years other than those specified. 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 with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing A V M Avenue 5th Street's current guideline value above this median.

• A V M Avenue 4th 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 3rd Street: Rs 5,500 per sq.ft (2024)
• A V M Avenue 7th 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 8th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in A V M Avenue 5th 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 to 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers A V M Avenue 5th Street?

The Sub Registrar Office that covers A V M Avenue 5th 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 a critical 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 transparency in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential components of the registration process. Buyers should be aware of these values to ensure they comply with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of A V M Avenue 5th Street?

The current guideline value of A V M Avenue 5th 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 5th Street?

A V M Avenue 5th Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

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 for A V M Avenue 5th Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.