Guideline Value for Abi Garden Annex

Abi Garden Annex guideline value

The current guideline value of Abi Garden Annex in Alamathi village is Rs 550 per sq.ft, effective from 1 July 2024. This property falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Abi Garden Annex has changed

The guideline value for Abi Garden Annex has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it saw a significant drop to Rs 335 per sq.ft in 2017. The value then increased to Rs 500 per sq.ft in 2023, before reaching the current rate of Rs 550 per sq.ft in 2024.

From 2023 to 2024, there was a change of +10%. The increase from 2017 to 2023 was +49%, while the change from 2012 to 2017 was a decrease of -33%. The value increased significantly by +150% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by +175%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Alamathi

In Alamathi, there are 54 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft. The median value is Rs 550 per sq.ft, which is the same as the current guideline value for Abi Garden Annex.

• Abi Garden: Rs 550 per sq.ft (2024)
• Bakiyalakshmi Nagar: Rs 660 per sq.ft (2024)
• Balasubramanian Nagar: Rs 770 per sq.ft (2024)
• Bhajanai Koil Street: Rs 990 per sq.ft (2024)
• Bharathiar Street: Rs 990 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Abi Garden Annex

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total Rs 49,500. 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 Abi Garden Annex?

The Sub Registrar Office covering Abi Garden Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Alamathi. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is in accordance with government regulations.

When buying or selling property, the guideline value serves as a benchmark. Buyers should be aware that the stamp duty is charged based on the higher value between the guideline value and the actual sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value for Abi Garden Annex?

The current guideline value for Abi Garden Annex is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Abi Garden Annex has seen several revisions, starting from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Abi Garden Annex?

The registration office for Abi Garden Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property in Abi Garden Annex?

Stamp duty for property in Abi Garden Annex is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

What are the other streets in Alamathi with guideline values?

Other streets in Alamathi include Abi Garden, Bakiyalakshmi Nagar, Balasubramanian Nagar, Bhajanai Koil Street, Bharathiar Street, and Bhuvaneswari Nagar, each with their respective guideline values for 2024.