Guideline Value for ABI'S MONARCH

Abi's Monarch guideline value

The current guideline value of Abi's Monarch in Varadarajapuram village, under the Padappai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - II.

How the guideline value of Abi's Monarch has changed

The guideline value for Abi's Monarch has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,538 per sq.ft, which was an increase from the previous revision. The most recent 2024 revision has raised the guideline value to Rs 2,800 per sq.ft, marking a 10% increase from the 2023 figure.

This consistent upward adjustment reflects changes in the valuation of properties in the area. The current guideline value is significantly higher than the 2023 revision, indicating a notable shift in the pricing structure for properties in Abi's Monarch.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for the area is Rs 1,650 per sq.ft, placing Abi's Monarch's 2024 figure above this median.

• Abi's Kuberan Nagar: Rs 2,420 per sq.ft (2024)
• Abi's Monarch Phase -II: Rs 2,090 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. Note that the 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's Monarch?

The Sub Registrar Office that covers Abi's Monarch 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Abi's Monarch is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Abi's Monarch has increased from Rs 2,538 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Abi's Monarch?

Abi's Monarch is classified as Residential Class III Type - II, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property in Abi's Monarch?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would amount to Rs 2,52,000.

Where is the Sub Registrar Office for Abi's Monarch located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. This office handles the registration of properties in Abi's Monarch.