Guideline Value for ABIRAMAPURAM 1ST STREET

Abiramapuram 1st Street guideline value

The current guideline value of Abiramapuram 1st Street is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - III.

How the guideline value of Abiramapuram 1st Street has changed

The guideline value for Abiramapuram 1st Street has undergone several revisions over the years. Starting from Rs 1,372 per sq.ft in 2002, it increased to Rs 1,550 per sq.ft in 2003, marking a 13% rise. The value then saw a significant jump to Rs 2,365 per sq.ft in 2007, which was a 53% increase. The next revision in 2012 kept the value at Rs 16,000 per sq.ft, with no change noted. In 2023, it remained at Rs 16,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 17,600 per sq.ft, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1183%. Notably, there is no figure available for the 2017 revision for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which means the 2024 figure for Abiramapuram 1st Street is above this median.

• Abiramapuram 2nd Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram 3rd Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram 4th Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram East 1st Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram East 2nd Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram East 3rd Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Abiramapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value would be Rs 1,76,00,000. The stamp duty at 7% would amount to Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total fees together to Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Abiramapuram 1st Street?

The Sub Registrar Office that covers Abiramapuram 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the transaction is documented accurately and that the appropriate taxes are collected by the government. Understanding the guideline value is essential for anyone involved in property transactions in the area.

Frequently asked questions

What is the current guideline value of Abiramapuram 1st Street?

The current guideline value of Abiramapuram 1st Street is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,372 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of 1183% over the years.

What is the land classification for Abiramapuram 1st Street?

Abiramapuram 1st Street is classified as Residential Special Type - III.

What are the stamp duty and registration fees for a property in Abiramapuram 1st Street?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 12,32,000 and the registration fee would be Rs 3,52,000, totaling Rs 15,84,000 based on the current guideline value.

Where is the Sub Registrar Office for Abiramapuram 1st Street located?

The Sub Registrar Office covering Abiramapuram 1st Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.