Guideline Value for ABIRAMAPURAM STREET (SUBRAMANIAM STREET)

Abiramapuram Street (Subramaniam Street) guideline value

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

How the guideline value of Abiramapuram Street (Subramaniam Street) has changed

The guideline value has undergone several revisions over the years. The 2012 revision set the value at Rs 16,000 per sq.ft, which was then reduced to Rs 10,720 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 16,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 17,600 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mylapore

In Mylapore, there are 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, indicating that the current guideline value of Abiramapuram Street (Subramaniam Street) is above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 17,600 per sq.ft, the 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, making the total Rs 15,84,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Abiramapuram Street (Subramaniam Street)?

The Sub Registrar Office that covers Abiramapuram Street (Subramaniam 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 an essential factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuations set by the government.

Frequently asked questions

What is the current guideline value of Abiramapuram Street?

The current guideline value of Abiramapuram Street (Subramaniam 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 16,000 per sq.ft in 2023 to Rs 17,600 per sq.ft in 2024, reflecting a 10% increase. It was Rs 10,720 per sq.ft in 2017, showing a 49% increase from that point to 2023.

What is the land classification for Abiramapuram Street?

Abiramapuram Street (Subramaniam Street) is classified as Residential Special Type - III.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Abiramapuram Street is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office for this street located?

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