Guideline Value for Abirami Nagar 11th Street

Abirami Nagar 11th Street guideline value

The current guideline value of Abirami Nagar 11th 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 is classified as Residential Class V Type - I.

How the guideline value of Abirami Nagar 11th Street has changed

The guideline value for Abirami Nagar 11th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 186 per sq.ft. This increased to Rs 204 per sq.ft in 2003, marking a 10% rise. In 2007, the value saw a significant jump to Rs 400 per sq.ft, reflecting an increase of 96%. The value then rose dramatically to Rs 2,000 per sq.ft in 2012, which was a 400% increase from the previous revision. However, there was a decrease to Rs 1,340 per sq.ft in 2017, representing a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by the current rate of Rs 2,200 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,083%. It is important to note that the register has no figure for this street for the years not listed above.

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 guideline value for these streets is Rs 3,050 per sq.ft, placing Abirami Nagar 11th Street's 2024 figure below this median.

• Abirami Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Nagar 11th 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 or the sale price.

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

Which Sub Registrar Office covers Abirami Nagar 11th Street?

The Sub Registrar Office that covers Abirami Nagar 11th 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 an important factor in property transactions in Maduravoyal. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value will be used to determine the applicable fees, which can significantly impact the overall cost of the transaction. Therefore, understanding the guideline value is essential for anyone looking to engage in real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Abirami Nagar 11th Street?

The current guideline value of Abirami Nagar 11th 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 186 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1,083% over the years.

What is the stamp duty rate for properties in Abirami Nagar 11th Street?

The stamp duty rate for properties in Abirami Nagar 11th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Abirami Nagar 11th Street?

The Sub Registrar Office for Abirami Nagar 11th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand this value to ensure proper compliance with local regulations.