Guideline Value for Abirami Avenue 5th Street

Abirami Avenue 5th Street guideline value

The current guideline value of Abirami Avenue 5th 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 5th Street has changed

The guideline value for Abirami Avenue 5th Street has undergone several revisions over the years. The earliest recorded value in the register is from 2012, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023 before reaching the current rate of Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, the guideline value has increased by 8% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 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 value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Abirami Avenue 5th Street.

• Abirami Avenue 4th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 6th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 3rd Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 7th Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 2nd Street: Rs 2,700 per sq.ft (2024)
• Abirami Avenue 8th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Avenue 5th 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, while the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abirami Avenue 5th Street?

The Sub Registrar Office that covers Abirami Avenue 5th 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 property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is fairly documented for taxation purposes.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value for Abirami Avenue 5th Street?

The current guideline value for Abirami Avenue 5th 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, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Abirami Avenue 5th Street?

Abirami Avenue 5th Street is classified as Residential Class I Type - I.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

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