Guideline Value for Abirami Nagar 8th Street

Abirami Nagar 8th Street guideline value

The current guideline value of Abirami Nagar 8th 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 the Residential Class V Type - I land classification.

How the guideline value of Abirami Nagar 8th Street has changed

The guideline value for Abirami Nagar 8th Street has undergone 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. By 2007, the value saw a significant jump to Rs 400 per sq.ft, an increase of 96%. The value then rose dramatically to Rs 2,000 per sq.ft in 2012, reflecting a 400% increase from the previous revision.

Following this, the guideline value decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. However, it rebounded to Rs 2,000 per sq.ft in 2023, before reaching the current value of Rs 2,200 per sq.ft in 2024, 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 that have 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. Abirami Nagar 8th Street's current guideline value is below this median.

• Abirami Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 6th 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 8th 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 fees 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 also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Abirami Nagar 8th Street?

The Sub Registrar Office that covers Abirami Nagar 8th 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 figure used during the registration of property transactions in Maduravoyal. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official value assigned to the property.

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Abirami Nagar 8th Street?

The current guideline value of Abirami Nagar 8th 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, reflecting an overall increase of 1,083% over this period.

What is the land classification of Abirami Nagar 8th Street?

Abirami Nagar 8th Street falls under the Residential Class V Type - I land classification.

Where is the Sub Registrar Office for Abirami Nagar 8th Street located?

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

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 1,98,000.