Guideline Value for Abirami Avenue 16th Street

Abirami Avenue 16th Street guideline value

The current guideline value of Abirami Avenue 16th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Abirami Avenue 16th Street has changed

The guideline value for Abirami Avenue 16th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision raised it to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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 is equal to the 2024 guideline value of Abirami Avenue 16th Street.

• Abirami Avenue 15th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 17th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 14th Street Lane: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 1st Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 14th Street Extension: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Avenue 16th 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 be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please note that 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 Abirami Avenue 16th Street?

The Sub Registrar Office that covers Abirami Avenue 16th 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 is an essential factor in the registration process when buying or selling property in Kodungaiyur. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the fair value of the property. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Abirami Avenue 16th Street?

The current guideline value of Abirami Avenue 16th 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 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What are the guideline values of other streets in Kodungaiyur?

Other streets in Kodungaiyur under the Madhavaram SRO have a guideline value of Rs 2,700 per sq.ft as well. This includes Abirami Avenue 15th Street, 17th Street, and others.

What is the registration fee for properties in Abirami Avenue 16th Street?

The registration fee for properties in Abirami Avenue 16th Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 27,00,000, the registration fee would be Rs 54,000.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can also find your SRO using the provided link.