Guideline Value for Abirami Nagar 1st Street

Abirami Nagar 1st Street guideline value

The current guideline value of Abirami Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO and is classified as Residential Class II Type - II.

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. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased to Rs 3,000 per sq.ft in the 2023 revision, and finally to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing Abirami Nagar 1st Street's 2024 figure below that median.

• A.G.S.Colony Cross Street: Rs 4,950 per sq.ft (2024)
• A.G.S.Colony Main Road (Plot Nos. 50 to 66): Rs 4,950 per sq.ft (2024)
• A.G.S.Colony (Others): Rs 4,950 per sq.ft (2024)
• A.G.S.Office Colony - Thilagar Street: Rs 4,950 per sq.ft (2024)
• Ajay Street: Rs 3,300 per sq.ft (2024)
• A.K.R.Nagar: Rs 3,850 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 rate, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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 Valasaravakkam

The guideline value plays a crucial role in property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area. This ensures that the fees are calculated based on a standardized value set by the government.

When selling property, the guideline value helps establish a baseline for the sale price, ensuring that both buyers and sellers have a clear understanding of the property's worth according to official records. This process helps maintain transparency and fairness in real estate 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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the median guideline value in Valasaravakkam?

The median guideline value in Valasaravakkam is Rs 3,850 per sq.ft, which is higher than the current value of Abirami Nagar 1st Street.

What are the stamp duty and registration fees for property in Abirami Nagar 1st Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value.

Which office handles property registration in this area?

The Virugambakkam Sub Registrar Office handles property registration for Abirami Nagar 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.