Guideline Value for Abirami Nagar 12th Street

Abirami Nagar 12th Street guideline value

The current guideline value of Abirami Nagar 12th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Abirami Nagar 12th Street has changed

The guideline value for Abirami Nagar 12th Street has seen several revisions since 2002. The 2002 revision set the value at Rs 186 per sq.ft, which increased to Rs 204 per sq.ft in 2003, marking a 10% rise. The value then surged significantly to Rs 400 per sq.ft in 2007, reflecting a 96% increase. Following this, the 2012 revision brought the value back to Rs 2,000 per sq.ft, a decrease of 400% from the previous revision.

In 2017, the guideline value was revised to Rs 1,340 per sq.ft, which was a 33% decrease from the 2012 figure. The most recent revisions occurred in 2023 and 2024, with the value rising from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, an increase of 10%. Overall, the guideline value has increased by 1,083% from 2002 to 2024.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, placing Abirami Nagar 12th Street's 2024 figure below that median.

• Abirami Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 10th 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 12th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abirami Nagar 12th Street?

The Abirami Nagar 12th Street is covered by 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 in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is assessed to ensure that the appropriate duties are collected. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can influence the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Abirami Nagar 12th Street?

The current guideline value of Abirami Nagar 12th 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, reflecting an overall increase of 1,083% over the years.

What is the registration office for Abirami Nagar 12th Street?

The registration office for Abirami Nagar 12th 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 this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,54,000.

What are the guideline values of other streets in Maduravoyal?

Other streets in Maduravoyal have a guideline value of Rs 2,200 per sq.ft for 2024, including Abirami Nagar 11th, 10th, 1st, 2nd, 3rd, and 4th Streets.