Guideline Value for A.V.M. Nagar Extension

A.V.M. Nagar Extension guideline value

The current guideline value for A.V.M. Nagar Extension is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class II Type - I.

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

Over the years, the guideline value of A.V.M. Nagar Extension has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is an increase from Rs 1,500 per sq.ft in the 2023 revision. This marks a 7% increase from the previous year. The 2017 revision had a guideline value of Rs 1,005 per sq.ft, indicating a significant increase of 49% to the 2023 figure. Overall, from 2017 to 2024, the guideline value has risen by 59%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The 2017, 2023, and 2024 figures reflect the only available data.

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 is Rs 1,600 per sq.ft, and A.V.M. Nagar Extension's 2024 figure aligns with this median.

• A.V.M. Nagar: Rs 1,600 per sq.ft (2024)
• A.V.M. Avenue: 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. Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers A.V.M. Nagar Extension?

The A.V.M. Nagar Extension area is covered by the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling a property, the guideline value plays a crucial role in calculating the stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value and the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for A.V.M. Nagar Extension?

The current guideline value for A.V.M. Nagar Extension 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. Nagar Extension?

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

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

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

A.V.M. Nagar Extension is classified as Residential Class II Type - I.