Guideline Value for Abirami Nagar 1st Street

Abirami Nagar 1st Street guideline value

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

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

The guideline value for Abirami Nagar 1st Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 90 per sq.ft. This increased to Rs 250 per sq.ft in 2003, marking a significant rise of 178%. The value then rose to Rs 400 per sq.ft in 2007, a further increase of 60%. In 2012, the value was Rs 2,000 per sq.ft, reflecting a substantial jump of 400%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest 2024 revision has increased it to Rs 2,200 per sq.ft, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 2344%. There are no figures available for the revisions of years not listed in the register for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Abirami Nagar 1st Street.

• Abirami Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 2nd Street 1st Crosst Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 2nd Street 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 2ns Street 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar Annexe: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Nagar 1st 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abirami Nagar 1st Street?

The Sub Registrar Office that covers Abirami Nagar 1st 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 Nerkundram

The guideline value is an essential factor when registering property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted in accordance with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value of Abirami Nagar 1st 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 90 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2344% over the years.

What are the other streets with the same guideline value in Nerkundram?

Other streets in Nerkundram with the same guideline value of Rs 2,200 per sq.ft include Abirami Nagar 2nd Street, Abirami Nagar 2nd Street 1st Crosst Street, Abirami Nagar 2nd Street 2nd Cross Street, Abirami Nagar 2ns Street 3rd Cross Street, Abirami Nagar 3rd Street, and Abirami Nagar Annexe.

What is the registration fee for properties in Abirami Nagar 1st Street?

The registration fee for properties in Abirami Nagar 1st Street is 2% of the guideline value. For example, for a plot valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where is the Sub Registrar Office for Abirami Nagar 1st Street located?

The Sub Registrar Office for Abirami Nagar 1st Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.