Guideline Value for A V M Nagar 3rd Street

A V M Nagar 3rd Street guideline value

The current guideline value of A V M Nagar 3rd 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 3rd Street has changed

The guideline value for A V M Nagar 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 385 per sq.ft. This increased to Rs 427 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged significantly to Rs 750 per sq.ft, reflecting a 76% increase. The 2012 revision saw a further increase to Rs 4,500 per sq.ft, which represented a substantial 500% jump from the previous revision. However, the value then decreased by 33% to Rs 3,015 per sq.ft in 2017. The 2023 revision recorded a guideline value of Rs 4,500 per sq.ft, showing a 49% increase from 2017. Finally, the current value as of 2024 is Rs 4,950 per sq.ft, which is a 10% increase from 2023.

There are no figures available for the years not specified in the register for A V M Nagar 3rd Street.

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, with a median value of Rs 4,400 per sq.ft. A V M Nagar 3rd Street's 2024 guideline value of Rs 4,950 per sq.ft is above this median.

• A V M Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• A V M Nagar 1st 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 3rd 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, charged at 7%, would be Rs 3,46,500, while the registration fee at 2% would be Rs 99,000. Together, the total cost for stamp duty and registration would be 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers A V M Nagar 3rd Street?

A V M Nagar 3rd Street falls under the jurisdiction of 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

The guideline value is a crucial factor in property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of A V M Nagar 3rd Street?

The current guideline value of A V M Nagar 3rd 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 385 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 1186% over the years.

What is the land classification of A V M Nagar 3rd Street?

A V M Nagar 3rd Street is classified as Residential Class II Type - II.

Which office handles registrations for A V M Nagar 3rd Street?

The Virugambakkam Sub Registrar Office handles registrations for A V M Nagar 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in A V M Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 at a rate of 7%.