Guideline Value for Abirami Nagar 3rd Street

Abirami Nagar 3rd Street guideline value

The current guideline value of Abirami Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Abirami Nagar 3rd Street has changed

The guideline value for Abirami Nagar 3rd Street has undergone several revisions over the years. In 2002, the guideline value was Rs 90 per sq.ft, which increased to Rs 250 per sq.ft in 2003. Following this, the value rose significantly to Rs 400 per sq.ft in 2007. The 2012 revision saw a decrease, bringing the value back to Rs 2,000 per sq.ft. The value then fell to Rs 1,340 per sq.ft in 2017, before increasing to Rs 2,000 per sq.ft in 2023. The current revision in 2024 has set the value at Rs 2,200 per sq.ft.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +178%. The value rose by +60% from 2003 to 2007. The 2007 to 2012 revision saw a decrease of -33%. Following this, there was a substantial increase of +49% from 2017 to 2023. Finally, the current revision from 2023 to 2024 reflects an increase of +10%. Overall, from 2002 to 2024, the guideline value has increased by +2344%.

Guideline values in Nerkundram

In Nerkundram village, 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 equal to the guideline value of Abirami Nagar 3rd Street.

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

Stamp duty and registration fee for property in Abirami Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is calculated at 7%, which totals Rs 1,54,000, while the registration fee at 2% comes to 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.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Abirami Nagar 3rd Street?

The Sub Registrar Office covering Abirami Nagar 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration norms.

When a property is sold, the registration office will use the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Abirami Nagar 3rd Street?

The current guideline value of Abirami Nagar 3rd 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 seen several revisions, starting from Rs 90 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting a significant overall increase of +2344% since 2002.

What is the land classification for Abirami Nagar 3rd Street?

Abirami Nagar 3rd Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for this street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covering Abirami Nagar 3rd Street.