Guideline Value for Abirami Nagar 2nd Street

Abirami Nagar 2nd Street guideline value

The current guideline value of Abirami Nagar 2nd 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 2nd Street has changed

The guideline value for Abirami Nagar 2nd Street has seen several revisions over the years. The earliest recorded value was Rs 186 per sq.ft in 2002, which increased to Rs 204 per sq.ft in 2003, marking a rise of 10%. Following this, the value surged significantly to Rs 400 per sq.ft in 2007, reflecting a substantial increase of 96%. In 2012, the value remained at Rs 2,000 per sq.ft, which was a decrease of 400% from the previous revision. The next revision in 2017 saw the value rise to Rs 1,340 per sq.ft, representing a 49% increase. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, followed by the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1083%. It is important to note that there are no figures available for revisions in years other than those mentioned.

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 2nd Street's 2024 guideline value below that median.

• Abirami Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 10th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these charges would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abirami Nagar 2nd Street?

The Sub Registrar Office that covers Abirami Nagar 2nd 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

When buying or selling property in Maduravoyal, the guideline value is used to determine the stamp duty and registration fees payable during the registration process. It is crucial for both buyers and sellers to be aware of the current guideline value, as it directly impacts the overall costs involved in property transactions.

The guideline value serves as a reference point for the government to assess the value of properties for taxation purposes. It is essential that all parties involved in a transaction understand how the guideline value affects their financial obligations during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Abirami Nagar 2nd Street?

The current guideline value of Abirami Nagar 2nd 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 significantly from Rs 186 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1083% over the years.

What is the registration fee for properties in Abirami Nagar 2nd Street?

The registration fee for properties in Abirami Nagar 2nd Street is calculated at 2% of the guideline value. For example, a property valued at Rs 22,00,000 would incur a registration fee of Rs 44,000.

Where is the Sub Registrar Office for Abirami Nagar 2nd Street located?

The Sub Registrar Office for Abirami Nagar 2nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Maduravoyal?

Stamp duty in Maduravoyal is calculated at 7% of the guideline value or the sale price, whichever is higher. It is essential for buyers to factor this cost into their overall budget when purchasing property.