Guideline Value for ABIRAMAPURAM EAST 1ST STREET

Abiramapuram East 1st Street guideline value

The current guideline value of Abiramapuram East 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, classified as Residential Special Type - III.

How the guideline value of Abiramapuram East 1st Street has changed

The guideline value for Abiramapuram East 1st Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,950 per sq.ft. This increased significantly to Rs 16,000 per sq.ft in 2012, marking a rise of 721%. However, between 2012 and 2017, the value decreased to Rs 10,720 per sq.ft, a drop of 33%. The value then rose to Rs 16,000 per sq.ft in 2023, and most recently to Rs 17,600 per sq.ft in 2024, reflecting a 10% increase.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 803%.

Guideline values in Mylapore

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

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

Stamp duty and registration fee for property in Abiramapuram East 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 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, resulting in a total of 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abiramapuram East 1st Street?

The Sub Registrar Office that covers Abiramapuram East 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 minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed and taxed according to the established guidelines.

Frequently asked questions

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

The current guideline value of Abiramapuram East 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 1,950 per sq.ft in 2007 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of 803%.

What is the land classification for Abiramapuram East 1st Street?

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

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.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.