Guideline Value for Abdul Kalam Nagar

Abdul Kalam Nagar guideline value

The current guideline value of Abdul Kalam Nagar is Rs 825 per sq.ft, effective from 1 July 2024. This area is located in Kavulbazaar village and falls under the Pammal SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Abdul Kalam Nagar has changed

The guideline value for Abdul Kalam Nagar has seen several revisions over the years. From the 2017 revision, which was Rs 502 per sq.ft, it increased to Rs 750 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 825 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2012, 2007, 2003, and 2002 in the register for this street. The current value of Rs 825 per sq.ft is the highest recorded for this street to date.

Guideline values in Kavulbazaar

Kavulbazaar village has a range of guideline values across its 44 streets under the Pammal SRO, with values ranging from Rs 825 to Rs 4,500 per sq.ft. The median guideline value is Rs 825 per sq.ft, which is the same as the current value for Abdul Kalam Nagar.

• Abdul Kalam Nagar/Bharathi Street: Rs 825 per sq.ft (2024)
• Abdul Kalam Nagar/Vivekanandhar Nagar: Rs 825 per sq.ft (2024)
• Anna Highway(2): Rs 1,100 per sq.ft (2024)
• Anna Highway (3): Rs 1,100 per sq.ft (2024)
• Anna Highway(4): Rs 1,100 per sq.ft (2024)
• Anna Highway(5): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Abdul Kalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total cost for these fees Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Abdul Kalam Nagar?

The Sub Registrar Office that covers Abdul Kalam Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kavulbazaar. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abdul Kalam Nagar?

The current guideline value of Abdul Kalam Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023, and then to Rs 825 per sq.ft in 2024. There are no figures available for the years 2012, 2007, 2003, and 2002.

What is the land classification for Abdul Kalam Nagar?

Abdul Kalam Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 74,250.

Where is the Sub Registrar Office located for Abdul Kalam Nagar?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.