Guideline Value for ABI KRISHNA NAGAR PHASE-II

Abi Krishna Nagar Phase-II guideline value

The current guideline value of Abi Krishna Nagar Phase-II is Rs 1,300 per sq.ft. This locality is situated in Madambakkam village under the Gooduvancheri SRO, and it is classified as Residential Special Type - III.

How the guideline value of Abi Krishna Nagar Phase-II has changed

The guideline value for Abi Krishna Nagar Phase-II has undergone several revisions over the years. The most recent revision, effective from 1 July 2024, maintains the guideline value at Rs 1,300 per sq.ft, which is the same as the previous revision in 2023. Prior to these, the 2017 revision set the value at Rs 871 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision also had a value of Rs 1,300 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 1,300 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The historical revisions reflect the fluctuations in the guideline value over time, with the current rate being consistent since 2023.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. The guideline value of Abi Krishna Nagar Phase-II is above this median.

• Aathilakshmi Avenue: Rs 1,200 per sq.ft (2024)
• Akchaya Nagar: Rs 1,200 per sq.ft (2024)
• Ambethkar Nagar: Rs 1,200 per sq.ft (2024)
• Ambujam Nagar: Rs 1,200 per sq.ft (2024)
• Ammakannu Nagar: Rs 1,200 per sq.ft (2024)
• Amma Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Abi Krishna Nagar Phase-II

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abi Krishna Nagar Phase-II?

The Sub Registrar Office that covers Abi Krishna Nagar Phase-II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is recorded accurately in the official records. This process is essential for legal clarity and for the protection of both buyers and sellers in property transactions.

Frequently asked questions

What is the current guideline value of Abi Krishna Nagar Phase-II?

The current guideline value of Abi Krishna Nagar Phase-II is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,300 per sq.ft from 2012 to 2024, with a significant increase from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023.

What is the land classification of Abi Krishna Nagar Phase-II?

Abi Krishna Nagar Phase-II is classified as Residential Special Type - III, indicating its suitability for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Abi Krishna Nagar Phase-II is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Abi Krishna Nagar Phase-II?

The Gooduvancheri Sub Registrar Office covers Abi Krishna Nagar Phase-II, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.