Guideline Value for Abirami Nagar 2nd Lane

Abirami Nagar 2nd Lane guideline value

The current guideline value of Abirami Nagar 2nd Lane 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 2nd Lane has changed

The guideline value for Abirami Nagar 2nd Lane has seen several revisions over the years. In 2012, the guideline value was Rs 1,400 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 938 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,400 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,540 per sq.ft in the 2024 revision, reflecting a growth of 10% from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a net increase of 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, with the 2024 guideline values ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median guideline value is Rs 1,540 per sq.ft, which matches the current value of Abirami Nagar 2nd Lane.

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

Stamp duty and registration fee for property in Abirami Nagar 2nd Lane

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, bringing the total cost for these fees to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for a detailed estimate.

Which Sub Registrar Office covers Abirami Nagar 2nd Lane?

The Sub Registrar Office that covers Abirami Nagar 2nd Lane 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 a critical factor when registering property transactions in Thiruverkadu. It serves as the minimum value for which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the financial obligations during the registration process. Buyers should ensure that the sale price is not below the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Abirami Nagar 2nd Lane?

The current guideline value of Abirami Nagar 2nd Lane 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 back to Rs 1,400 in 2023, and finally to Rs 1,540 in 2024.

What is the land classification for Abirami Nagar 2nd Lane?

Abirami Nagar 2nd Lane is classified as Residential Class I Type - I under the Kunrathur SRO.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot would incur total fees of Rs 1,38,600.

Which Sub Registrar Office covers this area?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, covers Abirami Nagar 2nd Lane.