Guideline Value for Abirami Avenue 3rd Street

Abirami Avenue 3rd Street guideline value

The current guideline value for Abirami Avenue 3rd 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 3rd Street has changed

Looking at the revisions, the guideline value for Abirami Avenue 3rd Street has seen several changes over the years. The 2012 revision recorded a value of Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and finally to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows an 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, the guideline values range from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Abirami Avenue 3rd Street aligns perfectly with this median.

• Abirami Avenue 1st Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 2nd Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 4th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 5th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 17th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Avenue 3rd 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, making the total cost for these fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abirami Avenue 3rd Street?

The Sub Registrar Office that covers Abirami Avenue 3rd 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 in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the registration department.

When a property is sold, the guideline value helps in assessing the transaction value, and it is essential for both buyers and sellers to be aware of this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Abirami Avenue 3rd Street?

The current guideline value for Abirami Avenue 3rd 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, representing an 8% increase. It increased from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, a 49% increase.

What is the land classification for Abirami Avenue 3rd Street?

Abirami Avenue 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the registration fees for property transactions?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for this area?

The Madhavaram Sub Registrar Office handles registrations for Abirami Avenue 3rd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.