Guideline Value for Abirami Lane

Abirami Lane guideline value

The current guideline value of Abirami Lane in Thirumullaivoyal village is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class I Type - I.

How the guideline value of Abirami Lane has changed

The guideline value for Abirami Lane has seen several revisions over the years. In 2002, the value was Rs 248 per sq.ft, which increased to Rs 280 per sq.ft in 2003, marking a 13% increase. By 2007, the value rose significantly to Rs 400 per sq.ft, reflecting a 43% change. The subsequent revision in 2012 saw a notable increase to Rs 2,200 per sq.ft, which was a substantial 450% rise from the previous figure. However, in 2017, the value decreased to Rs 1,474 per sq.ft, indicating a 33% drop. The most recent revision in 2024 has brought the guideline value back up to Rs 2,400 per sq.ft, representing a 63% increase from 2017.

It is important to note that there is no figure for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 868%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which is equal to the current guideline value for Abirami Lane.

• Abirami Street(Devi Nagar): Rs 2,400 per sq.ft (2024)
• Abdulkalam Street (Subramaniam Nagar): Rs 2,400 per sq.ft (2024)
• Aarthi Nagar: Rs 2,400 per sq.ft (2024)
• Agananoor Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Agasthiyar Street(Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Aishwarya Nagar: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000. Together, the total cost for stamp duty and registration fee would be Rs 2,16,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abirami Lane?

The Sub Registrar Office that covers Abirami Lane is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO here.

How the guideline value is used when you buy or sell in Thirumullaivoyal

The guideline value is an essential factor during the registration of property transactions in Thirumullaivoyal. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for any property sale or purchase.

When a buyer or seller engages in a property transaction, the guideline value ensures that the transaction is recorded at a standard value, thus helping to maintain transparency in property dealings. This value is crucial for both parties to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Abirami Lane?

The current guideline value of Abirami Lane is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 248 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 868% over this period.

What is the land classification of Abirami Lane?

Abirami Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Abirami Lane?

The registration office for Abirami Lane is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Thirumullaivoyal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000.