Guideline Value for Abirami Avenue 17th Street

Abirami Avenue 17th Street guideline value

The current guideline value of Abirami Avenue 17th 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 17th Street has changed

The guideline value for Abirami Avenue 17th Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly by 61% to reach the current rate of Rs 2,700 per sq.ft. It is noteworthy that the register has no figure for this street for the years 2002, 2003, 2007, and 2023.

Overall, comparing the 2012 and 2024 revisions, there has been a marginal increase of 8% in the guideline value. This reflects the fluctuations in the real estate market and the adjustments made to the guideline values over time.

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 guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Abirami Avenue 17th Street.

• Abirami Avenue 16th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 1st Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 15th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 2nd Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 14th Street Lane: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Avenue 17th 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 to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Abirami Avenue 17th Street?

The Sub Registrar Office that covers Abirami Avenue 17th 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 a crucial factor when registering a property in Kodungaiyur. It serves as the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value helps determine the financial obligations related to the transaction. It is essential for both parties to understand that the guideline value can impact the overall costs associated with the sale, including taxes and fees.

Frequently asked questions

What is the current guideline value of Abirami Avenue 17th Street?

The current guideline value of Abirami Avenue 17th 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, and then increased to Rs 2,700 per sq.ft in 2024.

What is the land classification of Abirami Avenue 17th Street?

The land classification for Abirami Avenue 17th Street is Residential Class I Type - I.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Abirami Avenue 17th Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles registrations for Abirami Avenue 17th Street.