Guideline Value for ABIRAMAPURAM 2ND STREET

Abiramapuram 2nd Street guideline value

The current guideline value of Abiramapuram 2nd 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 2nd Street has changed

The guideline value for Abiramapuram 2nd Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 872 per sq.ft. It increased significantly to Rs 969 per sq.ft in 2003, marking an 11% rise. The value then surged to Rs 6,160 per sq.ft in 2007, which represented a remarkable increase of 536%. In 2012, the value adjusted to Rs 16,000 per sq.ft, reflecting a 160% increase from the previous revision. However, in 2017, the guideline value decreased to Rs 10,720 per sq.ft, indicating a decline of 33%. The value then rose again to Rs 16,000 per sq.ft in 2023, before reaching the current value of Rs 17,600 per sq.ft in 2024, which is a 10% increase.

The overall change from 2002 to 2024 shows a substantial increase of 1918%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO carrying a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Abiramapuram 2nd Street's 2024 figure is above this median.

• Abiramapuram 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total fees 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 use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abiramapuram 2nd Street?

The Sub Registrar Office that covers Abiramapuram 2nd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Mylapore. It serves as a reference for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value can influence the overall cost of property transactions, including stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abiramapuram 2nd Street?

The current guideline value of Abiramapuram 2nd 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 significantly from Rs 872 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of 1918% over this period.

What is the stamp duty rate for property in Abiramapuram 2nd Street?

The stamp duty rate for property in Abiramapuram 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

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

What are the other streets with the same guideline value in Mylapore?

Other streets in Mylapore with the same guideline value of Rs 17,600 per sq.ft for 2024 include Abiramapuram 1st Street, Abiramapuram 3rd Street, Abiramapuram 4th Street, Abiramapuram East 1st Street, Abiramapuram East 2nd Street, and Abiramapuram East 3rd Street.