Guideline Value for Abirami Nagar 2nd Street

Abirami Nagar 2nd Street guideline value

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

The guideline value for Abirami Nagar 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 90 per sq.ft. In 2003, it increased significantly to Rs 250 per sq.ft, marking a change of +178%. The 2007 revision saw another substantial rise to Rs 400 per sq.ft, reflecting a +60% increase. However, in 2012, the value reverted to Rs 2,000 per sq.ft, which was a decrease of -33% from the previous revision. The 2017 revision set the value at Rs 1,340 per sq.ft, representing a +49% increase from 2012. The most recent revisions in 2023 and 2024 have seen the value rise to Rs 2,000 per sq.ft and then to Rs 2,200 per sq.ft, with a +10% increase from 2023 to 2024.

Overall, from 2002 to 2024, the guideline value has increased by +2344%. It is important to note that the register has no figures for the years not mentioned above.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the 2024 figure for Abirami Nagar 2nd Street.

• 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 2nd Street 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 1st 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 2nd 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 amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total fees would be 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abirami Nagar 2nd Street?

The Sub Registrar Office that covers Abirami Nagar 2nd 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 plays a crucial role during the registration process of property transactions in Nerkundram. It serves as a reference point for determining the minimum value at which a property can be registered. Buyers and sellers need to be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Abirami Nagar 2nd 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 significantly 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 in Nerkundram with the same guideline value?

Other streets in Nerkundram with the same 2024 guideline value of Rs 2,200 per sq.ft include Abirami Nagar 2nd Street 1st Crosst Street, 2nd Cross Street, 3rd Cross Street, 1st Street, 3rd Street, and Abirami Nagar Annexe.

What is the registration fee for property in Abirami Nagar 2nd Street?

The registration fee for property in Abirami Nagar 2nd Street is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where is the Sub Registrar Office for Abirami Nagar 2nd Street located?

The Sub Registrar Office for Abirami Nagar 2nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.