Guideline Value for ABI RAIL NAGAR(KR)

Abi Rail Nagar(Kr) guideline value

The current guideline value of Abi Rail Nagar(Kr) is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Sattamangalam village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Abi Rail Nagar(Kr) has changed

The guideline value for Abi Rail Nagar(Kr) has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 603 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 900 per sq.ft, and the latest revision in 2024 further raised it to Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft as of 2024. The median guideline value for the village is Rs 1,100 per sq.ft, positioning Abi Rail Nagar(Kr) below this median.

• Adithiya Garden: Rs 1,320 per sq.ft (2024)
• Agathiar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Agayathiyar Street (N): Rs 660 per sq.ft (2024)
• Agayathya Garden (N): Rs 660 per sq.ft (2024)
• Alayamman Koil Street (Ward -19): Rs 440 per sq.ft (2024)
• Ambedkar Street (Ward -3): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Abi Rail Nagar(Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abi Rail Nagar(Kr)?

The Sub Registrar Office that covers Abi Rail Nagar(Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Abi Rail Nagar(Kr)?

The current guideline value of Abi Rail Nagar(Kr) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and currently stands at Rs 990 per sq.ft in 2024.

What is the median guideline value in Sattamangalam?

The median guideline value in Sattamangalam is Rs 1,100 per sq.ft, which is higher than the current value of Abi Rail Nagar(Kr).

What fees are associated with property transactions in Abi Rail Nagar(Kr)?

When transacting property in Abi Rail Nagar(Kr), buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Abi Rail Nagar(Kr)?

The Sub Registrar Office for Abi Rail Nagar(Kr) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II SRO.