Guideline Value for Abirami Avenue 10th Street

Abirami Avenue 10th Street guideline value

The current guideline value of Abirami Avenue 10th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Abirami Avenue 10th Street has changed

The guideline value for Abirami Avenue 10th Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 1,675 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,700 per sq.ft in 2024, reflecting an 8% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which matches the current guideline value of Abirami Avenue 10th Street.

• Abirami Avenue 11th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 12th Extension: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 12th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 13th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 14th 1st Lane: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 14th 2nd Lane: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Avenue 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abirami Avenue 10th Street?

The Sub Registrar Office that covers Abirami Avenue 10th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kodungaiyur. It is used as a basis for calculating the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When purchasing property, the guideline value ensures that the transaction is registered at a fair value, helping to maintain transparency in property dealings. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the applicable duties.

Frequently asked questions

What is the current guideline value of Abirami Avenue 10th Street?

The current guideline value of Abirami Avenue 10th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Which office handles property registrations for Abirami Avenue 10th Street?

The Madhavaram Sub Registrar Office handles property registrations for Abirami Avenue 10th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Abirami Avenue 10th Street?

Abirami Avenue 10th Street is classified as Residential Class I Type - I, indicating its designation for residential use.