Guideline Value for Abdul Rahim street

Abdul Rahim street guideline value

The current guideline value of Abdul Rahim street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - I.

How the guideline value of Abdul Rahim street has changed

The guideline value of Abdul Rahim street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. The value remained at Rs 1,200 per sq.ft until the 2023 revision, which increased it to Rs 1,200 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

There are no recorded figures for the years 2007, 2003, and 2002 in the register for this street. The changes between the revisions highlight a significant increase of 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the current value of Abdul Rahim street below that median.

• Abraham Lincoln 1nd Cross Street: Rs 3,850 per sq.ft (2024)
• Abraham Lincoln 2st Cross Street: Rs 3,850 per sq.ft (2024)
• Abraham Lincoln 3rd cross Street: Rs 1,650 per sq.ft (2024)
• Abraham Lincoln Street: Rs 3,850 per sq.ft (2024)
• Adiyaman Street: Rs 1,650 per sq.ft (2024)
• Advocate Colony Ramanaidu Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Abdul Rahim street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty charged at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration would be Rs 1,18,800. 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 accurate calculations.

Which Sub Registrar Office covers Abdul Rahim street?

The Sub Registrar Office that covers Abdul Rahim street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees that buyers and sellers must pay during the transaction process.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and fairly. Buyers should be aware that the stamp duty will be calculated based on the higher of the guideline value or the sale price, which ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Abdul Rahim street?

The current guideline value of Abdul Rahim street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, showing a 10% increase. The value has also seen a significant increase of 49% from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023.

What is the land classification of Abdul Rahim street?

Abdul Rahim street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Abdul Rahim street?

The Sub Registrar Office for Abdul Rahim street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property transactions?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.