Guideline Value for A.V.M Street

A.V.M Street guideline value

The current guideline value of A.V.M Street in Saligramam village, under the Virugambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of A.V.M Street has changed

The guideline value for A.V.M Street has seen several revisions over the years. In 2002, the guideline value was Rs 797 per sq.ft, which increased to Rs 871 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 1,100 per sq.ft in 2007, an increase of +26%. Following that, the value surged to Rs 4,000 per sq.ft in 2012, reflecting a remarkable growth of +264%. However, in the subsequent revision in 2017, the guideline value dropped to Rs 2,680 per sq.ft, a decrease of -33%. The value then increased to Rs 4,000 per sq.ft in 2023, before reaching the current rate of Rs 4,400 per sq.ft in 2024, which is a +10% change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +452%. There are no figures available for the revisions in years other than those specified.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with the 2024 guideline values 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, which matches the current value of A.V.M Street.

• A.V.M.Nagar: Rs 4,950 per sq.ft (2024)
• Bajanai Koil 1st Street: Rs 3,850 per sq.ft (2024)
• Bajanai Koil 2nd Street: Rs 3,850 per sq.ft (2024)
• Arunachalam Road (Main): Rs 7,690 per sq.ft (2024)
• Arcot Road: Rs 13,200 per sq.ft (2024)
• Anna Road: Rs 6,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers A.V.M Street?

The Sub Registrar Office that covers A.V.M Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO here.

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

The guideline value is an essential factor when registering property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately with the appropriate fees applied.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures that all transactions comply with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of A.V.M Street?

The current guideline value of A.V.M Street is Rs 4,400 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 797 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +452% over the years.

What is the classification of A.V.M Street?

A.V.M Street is classified as Residential Class II Type - I, indicating its designation for residential use.

Where is the Virugambakkam Sub Registrar Office located?

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

How is the stamp duty calculated on property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.