Guideline Value for Abinayam Phase I & II

Abinayam Phase I & II guideline value

The current guideline value for Abinayam Phase I & II is Rs 7,100 per sq.ft, effective from 1 July 2024. This property is located in Nolambur village, under the Villivakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Abinayam Phase I & II has changed

The guideline value for Abinayam Phase I & II has seen several revisions over the years. The earliest recorded value is from 2017, which was Rs 4,355 per sq.ft. This figure increased significantly to Rs 6,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 63%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In Nolambur village, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The guideline value of Abinayam Phase I & II matches the median value of Rs 7,100 per sq.ft. Below are the guideline values for other streets in 1. Nolambur:

• Annamalai Avenue: Rs 7,100 per sq.ft (2024)
• Attrangarai Street: Rs 3,300 per sq.ft (2024)
• Aura Nandanandana: Rs 4,355 per sq.ft (2024)
• Chinnanolambur & Other Street: Rs 3,300 per sq.ft (2024)
• Church Street: Rs 3,300 per sq.ft (2024)
• Citilights Meadows: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Abinayam Phase I & II

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abinayam Phase I & II?

The Sub Registrar Office that covers Abinayam Phase I & II is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor in the registration process when buying or selling property in 1. Nolambur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that transactions are recorded at a fair and standardized rate.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the actual value of real estate in the area.

Frequently asked questions

What is the current guideline value for Abinayam Phase I & II?

The current guideline value for Abinayam Phase I & II is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 4,355 per sq.ft to Rs 7,100 per sq.ft in 2024, marking an overall increase of 63%.

What are the stamp duty rates for property in Abinayam Phase I & II?

The stamp duty for property in Abinayam Phase I & II is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Abinayam Phase I & II?

The Sub Registrar Office for Abinayam Phase I & II is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details on the official website.

What is the land classification for Abinayam Phase I & II?

Abinayam Phase I & II is classified as Residential Special Type - I, indicating its suitability for residential development.