Guideline Value for AVN Nagar

AVN Nagar guideline value

The current guideline value of AVN Nagar, located in Molachoor village under the Sunguvarchattram SRO, is Rs 605 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of AVN Nagar has changed

Since the 2012 revision, the guideline value for AVN Nagar has seen a significant increase. The 2012 revision recorded a value of Rs 400 per sq.ft, which rose to Rs 402 per sq.ft in 2017, marking a modest increase of 1%. The value then jumped to Rs 600 per sq.ft in 2023, reflecting a substantial increase of 49%. The latest revision in 2024 has set the guideline value at Rs 605 per sq.ft, a 1% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 51%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO, with a 2024 guideline value range from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing AVN Nagar's 2024 figure above this median.

• Arizhnar Anna Street: Rs 600 per sq.ft (2024)
• Anthoniyar Avenue: Rs 605 per sq.ft (2024)
• Anthaiyya Naidu Street: Rs 450 per sq.ft (2024)
• Anthaiya Nagar: Rs 605 per sq.ft (2024)
• Balas Garden: Rs 600 per sq.ft (2024)
• Banu Nagar Phase-II: Rs 460 per sq.ft (2024)

Stamp duty and registration fee for property in AVN Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty, charged at 7%, amounts to Rs 42,350, while the registration fee at 2% is Rs 12,100. Together, these fees total Rs 54,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers AVN Nagar?

The AVN Nagar area falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Molachoor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of AVN Nagar?

The current guideline value of AVN Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2012 to Rs 605 per sq.ft in 2024, marking an overall increase of 51% over this period.

What are the registration fees for property in AVN Nagar?

The registration fees for a property in AVN Nagar include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles property registrations in AVN Nagar?

The Sunguvarchattram Sub Registrar Office is responsible for handling property registrations in AVN Nagar.

What is the land classification of AVN Nagar?

AVN Nagar is classified as Residential Class III Type - I, which is important for understanding its development and usage regulations.