Guideline Value for A V M Nagar 1st Street

A V M Nagar 1st Street guideline value

The current guideline value of A V M Nagar 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 Nagar 1st Street has changed

The guideline value for A V M Nagar 1st Street has undergone several revisions over the years. In 2002, the value was Rs 392 per sq.ft, which increased to Rs 434 per sq.ft in 2003, marking an increase of 11%. The value then saw a substantial rise of 292% to reach Rs 1,700 per sq.ft in 2007. Following this, the value jumped by 165% to Rs 4,500 per sq.ft in 2012. However, it decreased by 33% to Rs 3,015 per sq.ft in 2017. The 2023 revision set the value at Rs 4,500 per sq.ft, which was then increased by 10% to the current value of Rs 4,950 per sq.ft in 2024.

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

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

• A V M Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• A V M Nagar 3rd 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 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)

Stamp duty and registration fee for property in A V M Nagar 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 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.

You can use our stamp duty and registration fee calculator for more information.

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

The Sub Registrar Office that covers A V M Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For further details, you can find your SRO.

How the guideline value is used when you buy or sell in Virugambakkam

The guideline value is a critical factor during the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of A V M Nagar 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, reflecting an overall increase of 1163% over this period.

What is the land classification for A V M Nagar 1st Street?

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

What are the stamp duty and registration fees for properties in this area?

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.

Where is the Sub Registrar Office located for A V M Nagar 1st Street?

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