Guideline Value for A.V. Nagar

A.V. Nagar guideline value

The current guideline value of A.V. Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Melavalam village under the Madurandakam SRO and is classified as Residential Special Type - II.

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

The guideline value for A.V. Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 60 per sq.ft, which increased to Rs 100 per sq.ft in 2012. However, this value decreased to Rs 67 per sq.ft in 2017. The most significant change occurred between the 2017 and 2023 revisions, where the value jumped to Rs 200 per sq.ft, reflecting a 199% increase. The 2023 revision maintained this value, with no change noted for the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 233%.

Guideline values in Melavalam

In Melavalam, there are 20 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,000 per sq.ft, with a median value of Rs 350 per sq.ft. A.V. Nagar's current guideline value is below this median.

• Anbu Nagar: Rs 200 per sq.ft (2024)
• Central Government Staffs Co-Op Nagar: Rs 200 per sq.ft (2024)
• Adhivasi Nagar: Rs 200 per sq.ft (2024)
• M.S.K. Nagar: Rs 200 per sq.ft (2024)
• Ramya Reng & Ramya Ramaa: Rs 200 per sq.ft (2024)
• R. R. Nagar: Rs 200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that 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. Nagar?

A.V. Nagar falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions, as it is used to determine the stamp duty and registration fees payable when buying or selling property. It ensures that the transaction is recorded at a standard value, which helps in maintaining transparency in property dealings.

When a property is registered, the guideline value serves as a benchmark for calculating the associated costs. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of A.V. Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 200 per sq.ft in 2024, marking an overall increase of 233%.

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

A.V. Nagar is classified as Residential Special Type - II within Melavalam village.

What is the registration office for A.V. Nagar?

The registration office for A.V. Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in A.V. Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000, leading to a stamp duty of Rs 14,000.