Guideline Value for ABIRAMI NAGAR

Abirami Nagar guideline value

The current guideline value of Abirami Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024. This locality is situated in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Abirami Nagar has changed

The guideline value for Abirami Nagar has undergone several revisions over the years. The earliest figure available is from 2002, when the guideline value was Rs 131 per sq.ft. This increased to Rs 154 per sq.ft in 2003, marking an 18% rise. The value then saw a significant increase to Rs 400 per sq.ft in 2007, which was a 160% jump. Following this, the guideline value was revised to Rs 1,000 per sq.ft in 2012, representing a 150% increase. However, it decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, and finally to the current value of Rs 1,110 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 747%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Abirami Nagar's 2024 figure below that median.

• Abinesar Street: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar Extn.: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Aathisamy Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, making the total cost Rs 99,900. It is important to note that 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 Abirami Nagar?

The Sub Registrar Office covering Abirami Nagar 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 information.

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

The guideline value is a crucial factor in property transactions in Pallikaranai. It serves as the basis for calculating the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the minimum value for registration. This means that the sale price cannot be lower than the guideline value, ensuring that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Abirami Nagar?

The current guideline value of Abirami Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 131 per sq.ft to the current Rs 1,110 per sq.ft in 2024, marking an overall increase of 747%.

What is the registration office for Abirami Nagar?

The registration office for Abirami Nagar 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.

What are the stamp duty rates in Abirami Nagar?

The stamp duty rate in Abirami Nagar is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

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

For more details on stamp duty and registration fees, you can use the stamp duty and registration fee calculator.