Guideline Value for ABIRAMAPURAM 3RD STREET

Abiramapuram 3rd Street guideline value

The current guideline value of Abiramapuram 3rd Street is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO, and falls under the land classification of Residential Special Type - III.

How the guideline value of Abiramapuram 3rd Street has changed

The guideline value for Abiramapuram 3rd Street has seen significant changes over the years. In 2002, the value was Rs 1,916 per sq.ft, which increased to Rs 2,128 per sq.ft in 2003, marking an 11% rise. The value continued to grow, reaching Rs 6,106 per sq.ft in 2007, a substantial increase of 187%. By 2012, the value adjusted to Rs 16,000 per sq.ft, reflecting a decrease of 33% from the previous revision. The value then rose to Rs 10,720 per sq.ft in 2017, a 49% increase, before reaching Rs 16,000 per sq.ft again in 2023. The latest revision in 2024 has set the value at Rs 17,600 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 819%. There are no figures available for the years between these revisions for Abiramapuram 3rd Street.

Guideline values in Mylapore

In Mylapore, the guideline values vary across 883 streets under the Mylapore SRO, with values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value in this area is Rs 8,800 per sq.ft, placing Abiramapuram 3rd Street's 2024 figure above that median.

• Abiramapuram 2nd Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram 4th Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram 1st 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 3rd 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 to Rs 15,84,000. It is important to 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 accurate calculations.

Which Sub Registrar Office covers Abiramapuram 3rd Street?

The Sub Registrar Office that covers Abiramapuram 3rd 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 during the registration of property transactions in Mylapore. It is used as a benchmark to determine the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value may differ from the actual sale price, and the registration fees are calculated based on the higher of the two values.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for taxation and legal purposes. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Abiramapuram 3rd Street?

The current guideline value of Abiramapuram 3rd 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 increased significantly from Rs 1,916 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, marking an overall increase of 819% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property of 1,000 sq.ft at the current guideline value, the total guideline value would be Rs 1,76,00,000, with stamp duty at Rs 12,32,000 and a registration fee of Rs 3,52,000.

Which office handles registrations for Abiramapuram 3rd Street?

The Mylapore Sub Registrar Office handles registrations for Abiramapuram 3rd Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the significance of the guideline value in property transactions?

The guideline value is used as a benchmark for registering property transactions, ensuring that properties are recorded at a fair value for taxation and legal purposes. It helps maintain transparency in property dealings in Mylapore.