Guideline Value for Abirami Nagar 6th Street

Abirami Nagar 6th Street guideline value

The current guideline value of Abirami Nagar 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Abirami Nagar 6th Street has changed

The guideline value for Abirami Nagar 6th 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 10% rise. Following this, the value 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.

In 2017, the guideline value decreased to Rs 1,340 per sq.ft, showing a decline of 33%. However, from 2017 to 2023, it rose to Rs 2,000 per sq.ft, a substantial increase of 49%. The most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 figure. There are no figures available for the years not listed in the register for this 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 the 2024 figure for Abirami Nagar 6th Street below that median.

• Abirami Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 5th 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 4th 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 6th Street

For a 1,000 sq.ft plot at the current guideline value, 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 fees together 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abirami Nagar 6th Street?

The Sub Registrar Office that covers Abirami Nagar 6th 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 plays a crucial role in the registration of property transactions in Maduravoyal. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is determined by the government and is updated periodically to reflect changes in the real estate market.

When a property is sold, the buyer must pay the 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, and it is essential for buyers to understand the guideline value to accurately assess their total costs during the buying process.

Frequently asked questions

What is the current guideline value of Abirami Nagar 6th Street?

The current guideline value of Abirami Nagar 6th 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 1083% across the revisions.

What are the other streets in Maduravoyal with the same guideline value?

Other streets in Maduravoyal with the same guideline value of Rs 2,200 per sq.ft in 2024 include Abirami Nagar 7th Street, Abirami Nagar 5th Street, Abirami Nagar 8th Street, Abirami Nagar 9th Street, Abirami Nagar 4th Street, and Abirami Nagar 3rd Street.

Where is the Virugambakkam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Abirami Nagar 6th Street?

The stamp duty for properties in Abirami Nagar 6th Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,54,000 based on the current guideline value.