Guideline Value for ABRAHAM STREET

Abraham Street guideline value

The current guideline value of Abraham Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, falling under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Abraham Street has changed

Looking back at the revisions, the guideline value for Abraham Street has seen significant changes over the years. In 2002, the value was Rs 783 per sq.ft, which increased to Rs 1,833 per sq.ft in 2003, marking a rise of 134%. The value then rose to Rs 2,365 per sq.ft in 2007, an increase of 29%. Following this, the guideline value jumped to Rs 8,000 per sq.ft in 2012, reflecting a substantial increase of 238%. However, it fell to Rs 5,360 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 8,000 per sq.ft in 2023, and most recently, it increased to Rs 8,800 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1024%. The register has no figure for the years not mentioned.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is the same as the current value for Abraham Street.

• Adam Street: Rs 8,800 per sq.ft (2024)
• Adanjan Mudali Street: Rs 8,800 per sq.ft (2024)
• Abiramapuram Street (Subramaniam Street): Rs 17,600 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Abraham Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total cost Rs 7,92,000. It is important to note that the 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 Abraham Street?

The Sub Registrar Office that covers Abraham 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 additional assistance.

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

The guideline value plays a crucial role when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for anyone involved in real estate transactions in Mylapore. This value is updated periodically, reflecting changes in the local real estate market, and serves as a benchmark for property transactions.

Frequently asked questions

What is the current guideline value of Abraham Street?

The current guideline value of Abraham Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 783 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 1024%.

What are the stamp duty and registration fees for property in Abraham Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 88,00,000. The stamp duty is Rs 6,16,000, and the registration fee is Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Abraham Street?

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

What is the land classification for Abraham Street?

Abraham Street is classified as Residential Class III Type - III, indicating its zoning for residential purposes.