Guideline Value for A.V.K. Nagar

A.V.K. Nagar guideline value

The current guideline value of A.V.K. Nagar in Nerkundram village, under the Virugambakkam SRO, is Rs 3,050 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

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

The guideline value of A.V.K. Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 2,750 per sq.ft in 2012, marking an increase of 817%. However, from 2012 to 2017, the value decreased to Rs 1,842 per sq.ft, a decline of 33%. The value then rose to Rs 2,750 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,050 per sq.ft, an increase of 11% from 2023.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, the guideline value has increased by 917% from 2007 to 2024.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing A.V.K. Nagar's 2024 figure above this median.

• Arulmigu Meenakshi Amman Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Arulmigu Meenakshi Amman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Arulmigu Meenakshi Amman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Balaji Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Balaji Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value amounts to Rs 30,50,000. The stamp duty at 7% would be Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, making the total fees together Rs 2,74,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers A.V.K. Nagar?

The Sub Registrar Office that covers A.V.K. Nagar 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 information.

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

The guideline value is a critical factor during property registration in Nerkundram. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of A.V.K. Nagar is Rs 3,050 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 917% over the years.

What are the stamp duty and registration fees for properties in A.V.K. Nagar?

For a property valued at Rs 30,50,000, the stamp duty would be Rs 2,13,500 and the registration fee would be Rs 61,000, totaling Rs 2,74,500.

Which office handles property registration for A.V.K. Nagar?

The Virugambakkam Sub Registrar Office handles property registration for A.V.K. Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the minimum registration value for properties. It ensures that the appropriate stamp duty and registration fees are collected based on the property's value during the registration process.