Guideline Value for A.V.N. Nagar

A.V.N. Nagar guideline value

The current guideline value of A.V.N. Nagar, located in Hastinapuram village under the Pallavaram SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

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

The guideline value for A.V.N. Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, it saw a decline to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, which was a 49% increase. The latest revision in 2024 set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

The register does not provide figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value range from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value of A.V.N. Nagar is below this median.

• Avvaiyar Street: Rs 2,380 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 2,420 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,970 per sq.ft (2024)
• Balaji Nagar: Rs 2,970 per sq.ft (2024)
• Balaji Nagar 1,2,3,4: Rs 2,970 per sq.ft (2024)
• Bangalamalai Street: Rs 1,650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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.N. Nagar?

The A.V.N. Nagar area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Hastinapuram, as it serves as a benchmark for determining the minimum value of a property. When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation.

Buyers and sellers should be aware that the guideline value is updated periodically, reflecting changes in the real estate market. It is essential for all parties involved in a transaction to check the latest guideline values to ensure compliance with local regulations.

Frequently asked questions

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

The current guideline value of A.V.N. Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

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

The Pallavaram Sub Registrar Office covers A.V.N. Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value of a property for registration purposes and to calculate the applicable stamp duty and registration fees during property transactions.