Guideline Value for A.V. Garden

A.V. Garden guideline value

The current guideline value of A.V. Garden, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,970 per sq.ft. This value is effective from the 2024 revision, which was implemented on 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of A.V. Garden has changed

The guideline value of A.V. Garden has seen significant changes over the years. The 2007 revision recorded a guideline value of Rs 600 per sq.ft, which increased substantially to Rs 2,700 per sq.ft in 2012, marking a remarkable rise of 350%. However, this value decreased by 33% to Rs 1,809 per sq.ft in the 2017 revision. Following this, the value surged by 49% to Rs 2,700 per sq.ft in 2023, and further increased by 10% to the current rate of Rs 2,970 per sq.ft in 2024. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 395%. Each revision reflects the changing landscape of property values in the area, with the most recent figure aligning with the median value for the village.

Guideline values in Mogalivakkam

Mogalivakkam has a total of 98 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value of Rs 2,970 per sq.ft matches the guideline value of A.V. Garden. Below are some other streets in Mogalivakkam and their respective guideline values:

• Bajanai Koil Street: Rs 2,970 per sq.ft (2024)
• Arumugam Nagar 1st Street: Rs 2,970 per sq.ft (2024)
• Arumugam Nagar: Rs 2,970 per sq.ft (2024)
• Balaji Avenue: Rs 2,860 per sq.ft (2024)
• Annai Velankanni Nagar Annexe: Rs 3,520 per sq.ft (2024)
• Annai Velankanni Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in A.V. Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, the total cost for stamp duty and registration fee would be Rs 2,67,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers A.V. Garden?

The Sub Registrar Office that covers A.V. Garden is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Mogalivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements and to avoid potential disputes during the registration process.

When a property is sold, the guideline value is used to assess the applicable stamp duty and registration fees. This ensures that the transaction is officially recognized and that the necessary taxes are collected based on the established guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of A.V. Garden?

The current guideline value of A.V. Garden is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 600 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024. The most notable increase occurred between 2007 and 2012, and again from 2017 to 2024.

What is the land classification for A.V. Garden?

The land classification for A.V. Garden is Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for A.V. Garden?

The Sub Registrar Office for A.V. Garden is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How do stamp duty and registration fees work in A.V. Garden?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total guideline value would be Rs 29,70,000, leading to specific fees based on this amount.