Guideline Value for Abaranji Avenue

Abaranji Avenue guideline value

The current guideline value of Abaranji Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Urur village, under the Adayar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Abaranji Avenue has changed

The guideline value for Abaranji Avenue has seen several revisions over the years. In 2002, the value was Rs 1,110 per sq.ft, which increased to Rs 1,313 per sq.ft in 2003, marking an 18% rise. The value then rose significantly to Rs 2,500 per sq.ft in 2007, reflecting a 90% increase. By 2012, the value was revised to Rs 5,000 per sq.ft, showing a 100% increase from the previous revision. However, in 2017, the value decreased to Rs 3,350 per sq.ft, representing a 33% drop. The next revision in 2023 set the value at Rs 5,000 per sq.ft, which then increased to the current rate of Rs 5,500 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 395%. The register does not contain figures for the years between 2012 and 2017 or for any other years not mentioned in the revisions.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value is Rs 6,600 per sq.ft, placing Abaranji Avenue's current figure below this median.

• Adyar Bridge Main Road: Rs 15,400 per sq.ft (2024)
• Alcot Kuppam 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Alcot Kuppam 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Alcot Kuppam 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Alcot Kuppam Housing Board: Rs 7,700 per sq.ft (2024)
• Alcot Kuppam Main Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Abaranji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abaranji Avenue?

The Sub Registrar Office that covers Abaranji Avenue is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Urur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for calculating the applicable fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Abaranji Avenue?

The current guideline value of Abaranji Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,110 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 395% over the years.

What is the registration office for Abaranji Avenue?

The registration office for Abaranji Avenue is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Abaranji Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000.

Are there other streets in Urur with different guideline values?

Yes, there are other streets in Urur with varying guideline values. The 2024 rates for these streets range from Rs 4,400 to Rs 15,400 per sq.ft.