Guideline Value for ABIRAMI NAGAR 2ND STREET

Abirami Nagar 2nd Street guideline value

The current guideline value of Abirami Nagar 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Abirami Nagar 2nd Street has changed

The guideline value for Abirami Nagar 2nd Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 500 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33% from the previous revision. The value then saw a substantial increase to Rs 1,500 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, which is the same as the guideline value for Abirami Nagar 2nd Street.

• Abirami Nagar 1st 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 2nd 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, charged at 7%, would amount to Rs 1,15,500, and the registration fee, at 2%, would be Rs 33,000. Together, the total cost for these fees would be 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abirami Nagar 2nd Street?

The Sub Registrar Office that covers Abirami Nagar 2nd 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. You can find your SRO for more details.

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

The guideline value is a crucial factor in the property registration process in Kolathuvancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When a buyer or seller approaches the registration office, the guideline value helps ensure that the transaction is recorded at a fair value, which is necessary for legal and tax purposes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Abirami Nagar 2nd Street?

The current guideline value of Abirami Nagar 2nd 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, representing an overall increase of 230%.

What is the stamp duty rate for properties in Abirami Nagar 2nd Street?

The stamp duty rate for properties in Abirami Nagar 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registration for Abirami Nagar 2nd Street?

The Chennai South Joint I Sub Registrar Office handles property registration for Abirami Nagar 2nd Street.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.