Guideline Value for ABITH NAGAR

Abith Nagar guideline value

The current guideline value of Abith Nagar, located in Puliyur village under the Kodambakkam SRO, is Rs 6,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - III land classification.

How the guideline value of Abith Nagar has changed

The guideline value for Abith Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 751 per sq.ft. This increased to Rs 825 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 1,050 per sq.ft in 2007, showing a 27% increase. In 2012, the value jumped significantly to Rs 5,800 per sq.ft, representing a 452% increase. However, this value decreased to Rs 3,886 per sq.ft in 2017, reflecting a 33% drop. The guideline value then rose to Rs 5,800 per sq.ft in 2023, before reaching the current figure of Rs 6,300 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 739%. The register does not have figures for the years between 2012 and 2017 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Abith Nagar's current figure above this median.

• Abdulla Street: Rs 6,300 per sq.ft (2024)
• Akbarabad First Street: Rs 8,200 per sq.ft (2024)
• Akbarabad Second Street: Rs 8,200 per sq.ft (2024)
• Alagiri Nagar 1st Street: Rs 6,300 per sq.ft (2024)
• Alagiri Nagar 2nd Street: Rs 6,300 per sq.ft (2024)
• Alagiri Nagar 3rd Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Abith Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value would be Rs 63,00,000. The stamp duty at 7% would amount to Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000. Together, the total cost for these fees would be Rs 5,67,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abith Nagar?

Abith Nagar falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abith Nagar?

The current guideline value of Abith Nagar is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 751 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, representing an overall increase of 739%.

What is the land classification of Abith Nagar?

Abith Nagar is classified as Residential Special Type - III under the land classification system.

What are the stamp duty and registration fees for property in Abith Nagar?

For a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000, and the registration fee would be Rs 1,26,000, totaling Rs 5,67,000.

Where is the Sub Registrar Office for Abith Nagar located?

The Kodambakkam Sub Registrar Office, which covers Abith Nagar, is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.