Guideline Value for Abdul Razak Street

Abdul Razak Street guideline value

The current guideline value of Abdul Razak Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Abdul Razak Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. It then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and further increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Abdul Razak Street's 2024 figure below that median.

• Abraham Street: Rs 3,300 per sq.ft (2024)
• Adhikesavanpillai Street Block 38: Rs 4,100 per sq.ft (2024)
• Adhikesavan Street: Rs 4,100 per sq.ft (2024)
• Alagirisamy Salai: Rs 7,700 per sq.ft (2024)
• Alagiri Street: Rs 3,300 per sq.ft (2024)
• Alayamaistry Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Abdul Razak Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abdul Razak Street?

The Sub Registrar Office covering Abdul Razak Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property is sold, the guideline value is assessed to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Abdul Razak Street?

The current guideline value of Abdul Razak Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Abdul Razak Street?

Abdul Razak Street is classified as Residential Class IV Type - II under the Ashok Nagar SRO.

Where can I find the Sub Registrar Office for Abdul Razak Street?

The Sub Registrar Office for Abdul Razak Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.