Guideline Value for ABI'S MONARCH PHASE -II

Abi's Monarch Phase -II guideline value

The current guideline value of Abi's Monarch Phase -II is Rs 2,090 per sq.ft, effective from 1 July 2024. This property is located in Varadarajapuram village under the Padappai SRO, classified as Mixed Special Type - I.

How the guideline value of Abi's Monarch Phase -II has changed

The guideline value for Abi's Monarch Phase -II has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,090 per sq.ft, a 10% increase from the 2023 figure of Rs 1,900 per sq.ft. Prior to these revisions, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 1,900 per sq.ft in 2023 to Rs 2,090 per sq.ft in 2024. The previous revisions do not have any recorded figures for this street, indicating a lack of data for those years.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, positioning Abi's Monarch Phase -II above this median.

• Abi's Monarch: Rs 2,800 per sq.ft (2024)
• Abi's Kuberan Nagar: Rs 2,420 per sq.ft (2024)
• Adhanur Road: Rs 1,650 per sq.ft (2024)
• ABIRAAMI AVENUE - PART - 1 To 3: Rs 1,650 per sq.ft (2024)
• Aaditra Gardens: Rs 3,370 per sq.ft (2024)
• Albin nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Abi's Monarch Phase -II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abi's Monarch Phase -II?

The Sub Registrar Office that covers Abi's Monarch Phase -II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is essential during the registration of property transactions in Varadarajapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is bought or sold, the guideline value is used to determine the applicable taxes, which are calculated based on this value or the sale price, whichever is higher. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Abi's Monarch Phase -II?

The current guideline value of Abi's Monarch Phase -II is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 1,900 per sq.ft in 2023 to Rs 2,090 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Abi's Monarch Phase -II?

Abi's Monarch Phase -II is classified as Mixed Special Type - I, which is a specific categorization under the land classification system.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Abi's Monarch Phase -II is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Varadarajapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 20,90,000, the stamp duty would be calculated on this amount.