Guideline Value for ABINESAR STREET

Abinesar Street guideline value

The current guideline value of Abinesar Street in Pallikaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Abinesar Street has changed

The guideline value for Abinesar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a drop of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 1,650 per sq.ft, representing a 64% rise from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Abinesar Street.

• Abirami Nagar: Rs 1,110 per sq.ft (2024)
• Aathisamy Nagar Extn.: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Abinesar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abinesar Street?

The Sub Registrar Office that covers Abinesar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

When buying or selling property in Pallikaranai, the guideline value is an important factor in the registration process. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

The guideline value ensures that the property is registered at a fair value, which is essential for both buyers and sellers. It helps maintain transparency in property transactions and provides a clear understanding of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Abinesar Street?

The current guideline value of Abinesar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Abinesar Street changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then rose to Rs 1,650 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

What are the stamp duty and registration fees for properties on Abinesar Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Abinesar Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Abinesar Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Abinesar Street?

Abinesar Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes within the Chennai South Joint I SRO.