Guideline Value for Abirami Nagar 5th Street

Abirami Nagar 5th Street guideline value

The current guideline value of Abirami Nagar 5th 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 falls under Residential Class V Type - I land classification.

How the guideline value of Abirami Nagar 5th Street has changed

The guideline value for Abirami Nagar 5th Street has seen several revisions over the years. In 2002, the guideline value was Rs 186 per sq.ft. It increased to Rs 204 per sq.ft in 2003, marking a 10% rise. The value continued to grow significantly, reaching Rs 400 per sq.ft in 2007, which was a 96% increase. By 2012, the value was Rs 2,000 per sq.ft, reflecting a substantial 400% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 2,000 per sq.ft, indicating a 49% increase. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. The overall change from 2002 to 2024 is an increase of 1,083%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with 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 5th Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Abirami Nagar 5th 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 be Rs 1,54,000, and the registration fee at 2% would amount to Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abirami Nagar 5th Street?

The Sub Registrar Office covering Abirami Nagar 5th 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 during the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abirami Nagar 5th Street?

The current guideline value of Abirami Nagar 5th 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, representing an overall increase of 1,083% over the years.

What is the land classification for Abirami Nagar 5th Street?

Abirami Nagar 5th Street is classified as Residential Class V Type - I.

Where can I find the registration office for Abirami Nagar 5th Street?

The registration office for Abirami Nagar 5th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How do I calculate the stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value or the sale price, whichever is higher. A calculator is available to assist with these calculations.