Guideline Value for A.V.M. Nagar

A.V.M. Nagar guideline value

The current guideline value of A.V.M. Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 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.M. Nagar has changed

The guideline value for A.V.M. Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 16%. However, the most recent revision in 2024 saw a significant increase to Rs 1,600 per sq.ft, representing a rise of 59% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 33%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for A.V.M. Nagar.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value among these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of A.V.M. Nagar.

• A.V.M. Nagar Extension: 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

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. Therefore, the total cost for stamp duty and registration would be Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

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

The Sub Registrar Office that covers A.V.M. Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duties and fees based on this value.

When buying or selling property, the guideline value will influence the overall transaction costs, including stamp duty and registration fees. Buyers should be aware that these costs are calculated based on the higher of the guideline value or the sale price, which can impact their total expenditure during the property transaction.

Frequently asked questions

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

The current guideline value of A.V.M. Nagar 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then to Rs 1,600 per sq.ft in 2024. There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

What is the land classification of A.V.M. Nagar?

A.V.M. Nagar is classified as Residential Class II Type - I. This classification indicates the intended use of the land for residential purposes.

What are the stamp duty and registration fees for property in A.V.M. Nagar?

The stamp duty for a property valued at Rs 16,00,000 would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are calculated based on the guideline value or the 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. This office handles the registration of properties in A.V.M. Nagar and surrounding areas.