Guideline Value for ABI AVENUE

Abi Avenue guideline value

The current guideline value of Abi Avenue is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Pothur village under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Abi Avenue has changed

The guideline value for Abi Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was later reduced to Rs 335 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 500 per sq.ft in the 2023 revision, and further to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pothur

Pothur village has a total of 98 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value is Rs 550 per sq.ft, which is equal to the current value of Abi Avenue.

• Akash Nagar: Rs 550 per sq.ft (2024)
• Anbu Avenue: Rs 440 per sq.ft (2024)
• Annai Terasa Nagar: Rs 550 per sq.ft (2024)
• Annai Theresa Nagar Extension: Rs 550 per sq.ft (2024)
• Annai Theresa Nagar Extension - II: Rs 550 per sq.ft (2024)
• Annai Velankanni Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Abi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abi Avenue?

The Sub Registrar Office that covers Abi Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Pothur. It is used to determine the stamp duty and registration fees applicable at the time of a property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration process.

When a property is sold or bought, the guideline value serves as a reference point for the transaction. The registration office uses this value to calculate the necessary fees, which must be paid by the buyer at the time of registration.

Frequently asked questions

What is the current guideline value of Abi Avenue?

The current guideline value of Abi Avenue is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the other streets in Pothur with guideline values?

Other streets in Pothur include Akash Nagar, Anbu Avenue, Annai Terasa Nagar, Annai Theresa Nagar Extension, Annai Theresa Nagar Extension - II, and Annai Velankanni Nagar, with values ranging from Rs 440 to Rs 550 per sq.ft in 2024.

How is stamp duty calculated for properties in Abi Avenue?

Stamp duty for properties in Abi Avenue is calculated at 7% of the guideline value. For example, a property valued at Rs 5,50,000 would incur a stamp duty of Rs 38,500.

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

The Sub Registrar Office for Abi Avenue is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.