Guideline Value for Abirami Nagar 7th Street

Abirami Nagar 7th Street guideline value

The current guideline value of Abirami Nagar 7th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Abirami Nagar 7th Street has changed

The guideline value for Abirami Nagar 7th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 186 per sq.ft. It increased to Rs 204 per sq.ft in 2003, followed by a significant jump to Rs 400 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 2,000 per sq.ft, but this was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision marked an increase to Rs 2,000 per sq.ft, and the current value is Rs 2,200 per sq.ft from the 2024 revision.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. However, the value decreased by 33% from 2012 to 2017. The jump from 2007 to 2012 was substantial at 400%, while from 2003 to 2007, it increased by 96%. The increase from 2002 to 2003 was 10%. Overall, from 2002 to 2024, the guideline value has increased by 1083%. There are no figures available for revisions 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 7th Street's 2024 figure below the median.

• Abirami Nagar 6th 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 5th 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 7th 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 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 or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Abirami Nagar 7th Street?

The Sub Registrar Office that covers Abirami Nagar 7th 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 when registering property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the official register.

When you decide to buy or sell property in this area, the guideline value will influence the stamp duty and registration fees that need to be paid. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value for Abirami Nagar 7th Street?

The current guideline value for Abirami Nagar 7th 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, reflecting an overall increase of 1083% over this period.

What is the land classification for Abirami Nagar 7th Street?

The land classification for Abirami Nagar 7th Street is Residential Class V Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Abirami Nagar 7th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Abirami Nagar 7th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.