Guideline Value for A.V.M. Avenue

A.V.M. Avenue guideline value

The current guideline value of A.V.M. Avenue in Madhavaram village, under the Madhavaram SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

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

The guideline value for A.V.M. Avenue has seen several revisions over the years. The 2017 revision recorded a guideline value of Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from 2017 to 2024, the guideline value has increased by 59%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the 2024 figure for A.V.M. Avenue.

• A.V.M. Nagar: Rs 1,600 per sq.ft (2024)
• A.V.M. Nagar Extension: Rs 1,600 per sq.ft (2024)
• ATV Nagar: Rs 1,300 per sq.ft (2024)
• Avvaiyar St (Ward No.16): Rs 1,300 per sq.ft (2024)
• Assisi Nagar West Thottam (Ward-06): Rs 1,600 per sq.ft (2024)
• Assisi Nagar to Kumarappapuram Main Rd (Ward No.6): Rs 1,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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

The A.V.M. Avenue is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the actual 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. Avenue?

The current guideline value of A.V.M. Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 59% over this period.

What is the stamp duty rate for properties in A.V.M. Avenue?

The stamp duty rate for properties in A.V.M. Avenue is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for A.V.M. Avenue?

The Madhavaram Sub Registrar Office is responsible for A.V.M. Avenue, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

Where can I find more information on guideline values in Madhavaram?

You can find more information on guideline values in Madhavaram by checking the registration department's guideline value register or visiting the Madhavaram SRO.