Guideline Value for ABI AVENUE (CHEN)

Abi Avenue (Chen) guideline value

The current guideline value of Abi Avenue (Chen) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sengundram - 1 village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Abi Avenue (Chen) has changed

Over the years, the guideline value of Abi Avenue (Chen) has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Abi Avenue (Chen) is above this median.

• Anna Builders (Chen): Rs 1,100 per sq.ft (2024)
• Annai Mookambigai Nagar (Chen): Rs 880 per sq.ft (2024)
• Arun Excello Constructions Llp Compact Homes Urmika: Rs 1,100 per sq.ft (2024)
• Athiparasakthi Nagart (Chen): Rs 660 per sq.ft (2024)
• Ats Twin Avenue Phase-I: Rs 660 per sq.ft (2024)
• Ats Twin Avenue Phase-II: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Abi Avenue (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 further calculations.

Which Sub Registrar Office covers Abi Avenue (Chen)?

The Sub Registrar Office that covers Abi Avenue (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the 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 Sengundram - 1

The guideline value is a crucial factor during the registration of property transactions in Sengundram - 1. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abi Avenue (Chen)?

The current guideline value of Abi Avenue (Chen) is Rs 1,320 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 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Abi Avenue (Chen)?

Abi Avenue (Chen) is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Abi Avenue (Chen)?

The Sub Registrar Office for Abi Avenue (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property in Abi Avenue (Chen)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.