Guideline Value for Abirami Nagar 4th Street

Abirami Nagar 4th Street guideline value

The current guideline value of Abirami Nagar 4th 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 4th Street has changed

The guideline value for Abirami Nagar 4th Street has seen several revisions over the years. Starting from Rs 186 per sq.ft in 2002, it increased to Rs 204 per sq.ft in 2003, marking a 10% rise. The value then jumped significantly to Rs 400 per sq.ft in 2007, reflecting a 96% increase. In 2012, the value was Rs 2,000 per sq.ft, which represented a 400% increase from the previous revision. However, this value decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current figure 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 1,083%. There are no figures available for revisions in years not mentioned in this context.

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, with a median value of Rs 3,050 per sq.ft. The guideline value of Abirami Nagar 4th Street is below this median.

• Abirami Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 9th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Nagar 4th 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, bringing the total to 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.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Abirami Nagar 4th Street?

The Sub Registrar Office that covers Abirami Nagar 4th 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 crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abirami Nagar 4th Street?

The current guideline value of Abirami Nagar 4th 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, with various increases and decreases across the revisions.

What is the stamp duty rate for property in Abirami Nagar 4th Street?

The stamp duty rate for property transactions in Abirami Nagar 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Abirami Nagar 4th Street?

The Sub Registrar Office for Abirami Nagar 4th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Maduravoyal?

The guideline value for properties in Maduravoyal is determined by the Registration Department and is based on various factors, including land classification and location within the village.