Guideline Value for Abirami Avenue 1st Street

Abirami Avenue 1st Street guideline value

The current guideline value of Abirami Avenue 1st 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 1st Street has changed

In the 2012 revision, the guideline value was 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 the 2024 revision, the value increased significantly by 61%, bringing the current guideline value to Rs 2,700 per sq.ft.

The register does not contain figures for the years 2002, 2003, 2007, and 2023 for this street. Overall, comparing the 2012 figure to the 2024 figure shows a slight increase of 8% over the twelve-year period.

Guideline values in Kodungaiyur

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

• Abirami Avenue 17th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 2nd Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 16th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 3rd Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 15th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Avenue 1st 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. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Abirami Avenue 1st Street?

The Sub Registrar Office that covers Abirami Avenue 1st 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 in property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is taken into account for calculating the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abirami Avenue 1st Street?

The current guideline value of Abirami Avenue 1st 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 seen several revisions. It was Rs 2,500 per sq.ft in 2012, dropped to Rs 1,675 per sq.ft in 2017, and has increased to Rs 2,700 per sq.ft in the 2024 revision.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the guideline value of Rs 2,700 per sq.ft, the total guideline value is 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 Sub Registrar Office covers Kodungaiyur?

The Madhavaram Sub Registrar Office covers Kodungaiyur, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and local market conditions. It is updated periodically to reflect changes in the real estate landscape.