Guideline Value for AVN GARDEN

Avn Garden guideline value

The current guideline value of Avn Garden in Vanagaram village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - III.

How the guideline value of Avn Garden has changed

Over the years, the guideline value of Avn Garden has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent 2024 revision has set it at Rs 1,100 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024, and by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, indicating that Avn Garden's 2024 figure is below this median.

• Avvaiyar Street: Rs 1,100 per sq.ft (2024)
• Arunachalam Nagar 5th Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 4th Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 3rd Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 2nd Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 1 To 5 Street: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Avn Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Avn Garden?

The Sub Registrar Office that covers Avn Garden is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Vanagaram. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of Avn Garden?

The current guideline value of Avn Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase of 10% from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. The value was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012.

What is the land classification for Avn Garden?

Avn Garden is classified as Residential Class IV Type - III, indicating its designation for residential use within the area.

Where can I find the Sub Registrar Office for Avn Garden?

The Sub Registrar Office for Avn Garden is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Avn Garden?

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 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%, along with a registration fee of Rs 22,000 at a rate of 2%.