Guideline Value for A V M Colony 5th Street

A V M Colony 5th Street guideline value

The current guideline value of A V M Colony 5th Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of A V M Colony 5th Street has changed

The guideline value for A V M Colony 5th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 392 per sq.ft. This increased to Rs 434 per sq.ft in 2003, marking an 11% rise. In 2007, the value saw a significant jump to Rs 1,500 per sq.ft, representing a 246% increase. The value then rose to Rs 4,500 per sq.ft in 2012, which was a 200% increase from the previous revision. However, between 2012 and 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The guideline value then increased to Rs 4,500 per sq.ft in 2023, followed by a further increase to Rs 4,950 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1163%. There are no revisions in the register for years other than those listed above.

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 in this area is Rs 4,400 per sq.ft, making the 2024 figure for A V M Colony 5th Street above that median.

• A V M Colony 4th Street: Rs 4,950 per sq.ft (2024)
• A V M Colony 6th Street: Rs 4,950 per sq.ft (2024)
• A V M Colony 3th Street: Rs 4,950 per sq.ft (2024)
• A V M Colony 2nd Street: Rs 4,950 per sq.ft (2024)
• A V M Colony 1st Street: Rs 4,950 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 Colony 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. 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 Colony 5th Street?

The Sub Registrar Office that covers A V M Colony 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 crucial factor during 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. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of A V M Colony 5th 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 from Rs 392 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 1163% over the years.

What are the stamp duty and registration fees for properties in A V M Colony 5th Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 3,46,500, and the registration fee would be Rs 99,000, totaling Rs 4,45,500 based on the current guideline value.

Which office handles property registration in A V M Colony 5th Street?

The Virugambakkam Sub Registrar Office handles property registration for A V M Colony 5th 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 in Virugambakkam is Rs 4,400 per sq.ft, with A V M Colony 5th Street's 2024 value being above this median.