Guideline Value for ABIRAMAPURAM EAST 2ND STREET

Abiramapuram East 2nd Street guideline value

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

The guideline value for Abiramapuram East 2nd Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 1,544 per sq.ft. This increased to Rs 1,715 per sq.ft in 2003, marking an increase of 11%. By 2007, the value saw a significant rise to Rs 1,950 per sq.ft, which was a 14% increase from the previous revision. The 2012 revision maintained the value at Rs 16,000 per sq.ft, showing no change from the 2007 figure.

In 2023, the guideline value was again set at Rs 16,000 per sq.ft, with no change from the previous revision. However, in 2024, the value increased to Rs 17,600 per sq.ft, reflecting a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1,040%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry 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. The guideline value of Abiramapuram East 2nd Street is above this median.

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

Stamp duty and registration fee for property in Abiramapuram East 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 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abiramapuram East 2nd Street?

The Abiramapuram East 2nd Street falls under the jurisdiction of 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 is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Abiramapuram East 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 seen significant changes, increasing from Rs 1,544 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, marking an overall increase of 1,040%.

What is the land classification for Abiramapuram East 2nd Street?

Abiramapuram East 2nd Street is classified as Residential Special Type - III.

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

For a 1,000 sq.ft property, the stamp duty would be Rs 12,32,000 and the registration fee would be Rs 3,52,000, totaling Rs 15,84,000.

Which office handles registrations for properties in Mylapore?

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