Guideline Value for A V M Colony 6th Street

A V M Colony 6th Street guideline value

The current guideline value for A V M Colony 6th Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, falling under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of A V M Colony 6th Street has changed

The guideline value for A V M Colony 6th Street has seen several revisions over the years. Starting from Rs 392 per sq.ft in 2002, it increased to Rs 434 per sq.ft in 2003, marking an 11% rise. The value then rose by 15% to reach Rs 500 per sq.ft in 2007. Following this, there was a significant increase of 800%, bringing the value to Rs 4,500 per sq.ft in 2012. However, it decreased by 33% to Rs 3,015 per sq.ft in 2017. The value then climbed by 49% to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,950 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1163%. There are no figures available for the revisions in the years not 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 guideline value for A V M Colony 6th Street above that median.

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

Stamp duty and registration fee for property in A V M Colony 6th 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, totaling Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and 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 6th Street?

The Sub Registrar Office covering A V M Colony 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 is a crucial factor in property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware of this value to ensure compliance with local regulations when executing property transactions.

When a property is sold or purchased, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

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

The current guideline value of A V M Colony 6th 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 multiple times, starting from Rs 392 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 1163% over this period.

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 6th Street's value being above this median.

What are the stamp duty and registration fees for properties in A V M Colony 6th Street?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500, and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

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

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