Guideline Value for Abirami Nagar 1st Street

Abirami Nagar 1st Street guideline value

The current guideline value of Abirami Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Abirami Nagar 1st Street has changed

The guideline value for Abirami Nagar 1st Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 186 per sq.ft. This increased to Rs 204 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting a 96% increase. In 2012, the value was Rs 2,000 per sq.ft, showing a substantial increase of 400% from the previous revision. However, in 2017, it dropped to Rs 1,340 per sq.ft, a decrease of 33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, followed by a final increase to Rs 2,200 per sq.ft in 2024, amounting to a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,083%. There are no figures available for the years between these revisions for Abirami Nagar 1st Street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing Abirami Nagar 1st Street's 2024 figure below that median.

• Abirami Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Nagar 1st Street?

The Sub Registrar Office that covers Abirami Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Maduravoyal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

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

The current guideline value of Abirami Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 186 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 1,083% over the years.

What is the registration fee for properties in Abirami Nagar 1st Street?

The registration fee for properties in Abirami Nagar 1st Street is calculated at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Abirami Nagar 1st Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How can I calculate the stamp duty for a property in Abirami Nagar 1st Street?

You can calculate the stamp duty using the guideline value and the applicable rates, or you can use the stamp duty and registration fee calculator for convenience.