Guideline Value for Abirami Nagar (Balaraman Street)

Abirami Nagar (Balaraman Street) guideline value

The current guideline value of Abirami Nagar (Balaraman Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - II.

How the guideline value of Abirami Nagar (Balaraman Street) has changed

The guideline value for Abirami Nagar (Balaraman Street) has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The next revision in 2023 set the value at Rs 2,000 per sq.ft, followed by the current value of Rs 2,200 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Abirami Nagar (Balaraman Street) at the median value for 2024.

• Abirami Nagar 2-nd Cross St: Rs 2,200 per sq.ft (2024)
• Abirami Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 1-st Cross St: Rs 2,200 per sq.ft (2024)
• Abirami Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar: Rs 2,200 per sq.ft (2024)
• Ambethkar Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Nagar (Balaraman 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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges 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.

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

Which Sub Registrar Office covers Abirami Nagar (Balaraman Street)?

The Sub Registrar Office that covers Abirami Nagar (Balaraman Street) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Irumpuliyur

The guideline value plays a crucial role when buying or selling property in Irumpuliyur. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the transaction reflects the current guideline value to avoid any discrepancies. This value is updated periodically, and staying informed can help in making better financial decisions during property transactions.

Frequently asked questions

What is the current guideline value of Abirami Nagar (Balaraman Street)?

The current guideline value of Abirami Nagar (Balaraman 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 increased from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this street?

The Tambaram Joint 1 Sub Registrar Office covers Abirami Nagar (Balaraman Street), located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Abirami Nagar (Balaraman Street)?

Abirami Nagar (Balaraman Street) is classified as Residential Special Type - II, indicating its suitability for residential development.