Guideline Value for Abirami Nagar 1st Cross Street

Abirami Nagar 1st Cross Street guideline value

The current guideline value of Abirami Nagar 1st Cross Street is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Thiruverkadu village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Abirami Nagar 1st Cross Street has changed

The guideline value for Abirami Nagar 1st Cross Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,400 per sq.ft, which then decreased to Rs 938 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,400 per sq.ft in 2023, and further rose to the current rate of Rs 1,540 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. Overall, when comparing the figures from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, which is equal to the current value of Abirami Nagar 1st Cross Street.

• Abirami Nagar 1st Extension: Rs 1,540 per sq.ft (2024)
• Abirami Nagar 1st Lane: Rs 1,540 per sq.ft (2024)
• Abirami Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• Abirami Nagar 2nd Extension: Rs 1,540 per sq.ft (2024)
• Abirami Nagar 2nd Lane: Rs 1,540 per sq.ft (2024)
• Abirami Nagar 3rd Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, making the total cost for these charges Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Abirami Nagar 1st Cross Street?

The Sub Registrar Office that covers Abirami Nagar 1st Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Thiruverkadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, and it helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Abirami Nagar 1st Cross Street?

The current guideline value of Abirami Nagar 1st Cross Street is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024. There was a significant increase of 49% from 2017 to 2023.

What is the land classification for Abirami Nagar 1st Cross Street?

Abirami Nagar 1st Cross Street is classified as Residential Class I Type - I. This classification is important for understanding the type of development allowed in the area.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 15,40,000, the total stamp duty and registration fee would amount to Rs 1,38,600.

Where is the Sub Registrar Office for this area located?

The Sub Registrar Office covering Abirami Nagar 1st Cross Street is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all property registrations in the area.