Guideline Value for ABIRAMAPURAM EAST 3RD STREET

Abiramapuram East 3rd Street guideline value

The current guideline value of Abiramapuram East 3rd 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 3rd Street has changed

The guideline value for Abiramapuram East 3rd Street has seen significant changes over the years. In 2002, the value was Rs 1,191 per sq.ft, which increased to Rs 1,544 per sq.ft in 2003, marking a 30% rise. The value further increased to Rs 1,950 per sq.ft in 2007, a 26% increase from the previous revision. By 2012, the value remained unchanged at Rs 16,000 per sq.ft, and this figure persisted until the 2023 revision.

With the 2024 revision, the guideline value rose to Rs 17,600 per sq.ft, reflecting a 10% increase from the 2023 figure of Rs 16,000 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 1378%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Abiramapuram East 3rd Street's 2024 figure well above this median.

• Abiramapuram East 2nd Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram Street (Subramaniam Street): Rs 17,600 per sq.ft (2024)
• Abiramapuram East 1st Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram 4th 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 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, totaling Rs 15,84,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abiramapuram East 3rd Street?

The Sub Registrar Office that covers Abiramapuram East 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 is a crucial factor in the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the fees reflect the current market conditions as assessed by the government.

When a property is registered, the guideline value serves as a baseline for calculating the costs involved. Buyers and sellers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can significantly affect the total expenses incurred during the transaction.

Frequently asked questions

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

The current guideline value of Abiramapuram East 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 changed significantly from Rs 1,191 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, representing an overall increase of 1378%.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 1,76,00,000, 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 property registrations in this area?

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

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that these costs reflect the assessed market conditions.