Guideline Value for A V M Colony 1st Street

A V M Colony 1st Street guideline value

The current guideline value of A V M Colony 1st Street is Rs 4,950 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 - II.

How the guideline value of A V M Colony 1st Street has changed

Since the year 2002, the guideline value for A V M Colony 1st Street has seen significant changes. The register shows that in 2002, the value was Rs 392 per sq.ft. This increased to Rs 434 per sq.ft in 2003, marking an 11% rise. The value continued to grow, reaching Rs 500 per sq.ft in 2007, which was an increase of 15%. In 2012, the value was Rs 4,500 per sq.ft, reflecting an 800% increase from the previous revision. However, it then decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 4,500 per sq.ft, showing a 49% increase. The most recent revision in 2024 set the value at Rs 4,950 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 1163%.

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 for these streets is Rs 4,400 per sq.ft, placing A V M Colony 1st Street's 2024 figure above that median.

• A V M Avenue 8th Street: Rs 5,500 per sq.ft (2024)
• A V M Colony 2nd Street: Rs 4,950 per sq.ft (2024)
• A V M Avenue 7th Street: Rs 5,500 per sq.ft (2024)
• A V M Colony 3th Street: Rs 4,950 per sq.ft (2024)
• A V M Avenue 6th Street: Rs 5,500 per sq.ft (2024)
• A V M Colony 4th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in A V M Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total cost Rs 4,45,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers A V M Colony 1st Street?

The Sub Registrar Office that covers A V M Colony 1st 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

When buying or selling property in Virugambakkam, the guideline value is an essential factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

It is important to note that the guideline value is used to assess the financial obligations associated with property transactions. Buyers and sellers should be aware of the current guideline value to understand their financial responsibilities during the registration process.

Frequently asked questions

What is the current guideline value of A V M Colony 1st Street?

The current guideline value of A V M Colony 1st Street is Rs 4,950 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 392 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 1163% over this period.

What is the land classification of A V M Colony 1st Street?

A V M Colony 1st Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for A V M Colony 1st Street?

The Sub Registrar Office for A V M Colony 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in A V M Colony 1st Street?

The stamp duty for properties in A V M Colony 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 3,46,500.