Guideline Value for Abirami Avenue 15th Street

Abirami Avenue 15th Street guideline value

The current guideline value of Abirami Avenue 15th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Abirami Avenue 15th Street has changed

The guideline value for Abirami Avenue 15th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which reflects an increase from Rs 2,500 per sq.ft in the 2012 revision, marking an 8% rise. Notably, there are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

Prior to the 2012 revision, the guideline value remained unchanged, with the last recorded figure being Rs 2,500 per sq.ft in 2012. The absence of figures for the years leading up to 2012 indicates that there were no adjustments made during those periods.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Abirami Avenue 15th Street.

• Abirami Avenue 14th Street Lane: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 16th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 14th Street Extension: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 17th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 14th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Avenue 15th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would amount 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 charges to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abirami Avenue 15th Street?

The Sub Registrar Office that covers Abirami Avenue 15th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the minimum value at which property transactions must be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency in property transactions and protects the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Abirami Avenue 15th Street?

The current guideline value of Abirami Avenue 15th 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 increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, reflecting an 8% rise. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification of Abirami Avenue 15th Street?

The land classification for Abirami Avenue 15th Street is Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.