Guideline Value for ABIRAMI NAGAR 1ST STREET

Abirami Nagar 1st Street guideline value

The current guideline value of Abirami Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Abirami Nagar 1st Street has changed

The guideline value of Abirami Nagar 1st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value saw a decrease to Rs 1,005 per sq.ft, which was a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year. 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 230%. The changes between the revisions highlight the fluctuations in property values over the years, with significant increases and a notable decrease in 2017.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the 2024 figure for Abirami Nagar 1st Street.

• Abirami Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Achari Street: Rs 1,320 per sq.ft (2024)
• Aandavar Nagar: Rs 990 per sq.ft (2024)
• Annai Abirami Nagar: Rs 1,650 per sq.ft (2024)
• Annai Abirami Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Annai Abirami Nagar 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. 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 information.

Which Sub Registrar Office covers Abirami Nagar 1st Street?

The Sub Registrar Office that covers Abirami Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kolathuvancheri

The guideline value plays a crucial role in the registration process of property transactions in Kolathuvancheri. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Abirami Nagar 1st Street?

The current guideline value of Abirami Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What is the land classification for Abirami Nagar 1st Street?

Abirami Nagar 1st Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Abirami Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.