Guideline Value for A V M Avenue 6th Street

A V M Avenue 6th Street guideline value

The current guideline value of A V M Avenue 6th Street 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 6th Street has changed

The guideline value for A V M Avenue 6th Street has undergone 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% increase. The value then saw a significant rise to Rs 1,100 per sq.ft in 2007, reflecting a 133% increase. Following this, the 2012 revision set the value at Rs 5,000 per sq.ft, a substantial increase of 355% from the previous revision. However, in 2017, the value decreased to Rs 3,350 per sq.ft, which was a 33% decline. The guideline value then rose to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 5,500 per sq.ft, indicating a 10% increase from the previous year.

There are no figures available for revisions in years other than those mentioned. 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 guideline value for this area is Rs 4,400 per sq.ft, placing A V M Avenue 6th Street's 2024 figure above that median.

• A V M Avenue 5th 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 4th Street: Rs 5,500 per sq.ft (2024)
• A V M Avenue 8th Street: Rs 5,500 per sq.ft (2024)
• A V M Avenue 3rd Street: Rs 5,500 per sq.ft (2024)
• A V M Colony 1st Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in A V M Avenue 6th 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 the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers A V M Avenue 6th Street?

The Sub Registrar Office that covers A V M Avenue 6th 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 plays a crucial role during the registration of property transactions in Virugambakkam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the local authorities.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the costs associated with the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of A V M Avenue 6th Street?

The current guideline value of A V M Avenue 6th 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 seen several changes, starting 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 are the stamp duty and registration fees for property in A V M Avenue 6th Street?

For a property valued at Rs 55,00,000, the stamp duty is Rs 3,85,000, and the registration fee is Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for A V M Avenue 6th Street?

The Virugambakkam Sub Registrar Office handles property registrations for A V M Avenue 6th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How does the guideline value impact property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded at a value determined by local authorities, impacting the overall costs involved.