Guideline Value for Abirami Nagar 1st Street

Abirami Nagar 1st Street guideline value

The current guideline value of Abirami Nagar 1st Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

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

The guideline value for Abirami Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 214 per sq.ft. This value increased significantly to Rs 237 per sq.ft in 2003, marking an 11% rise. From 2003 to 2007, the guideline value saw a substantial increase of 617%, reaching Rs 1,700 per sq.ft. The value then rose to Rs 4,500 per sq.ft in 2012, reflecting a 165% increase from the previous revision.

In the following years, the guideline value experienced a decline, dropping to Rs 3,015 per sq.ft in 2017, which is a decrease of 33% from 2012. However, from 2017 to 2023, the value rose by 49% to Rs 4,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 4,950 per sq.ft, a 10% increase from 2023. There are no years in the register that lack figures for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Abirami Nagar 1st Street is above this median.

• Abirami Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• Abusali Street - Virugambakkam: Rs 7,150 per sq.ft (2024)
• Alwarthiru Nagar Annexe School View Street: Rs 5,500 per sq.ft (2024)
• Ambethkar Street - Chimtenkulam: Rs 4,400 per sq.ft (2024)
• Anna Colony: Rs 4,400 per sq.ft (2024)
• Annaji Rao Nagar 1st Cross Street: Rs 3,850 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, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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 Virugambakkam

The guideline value is a crucial factor in property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value will influence the stamp duty and registration fees payable. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately in the official register.

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 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 214 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 2213% over the years.

What is the land classification of Abirami Nagar 1st Street?

Abirami Nagar 1st Street is classified as Residential Class II Type - II.

Where is the Sub Registrar Office located for this street?

The Virugambakkam Sub Registrar Office is 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 at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.