Guideline Value for Abirami Nagar Annexe

Abirami Nagar Annexe guideline value

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

How the guideline value of Abirami Nagar Annexe has changed

The guideline value for Abirami Nagar Annexe has seen several revisions over the years. The earliest recorded value was Rs 167 per sq.ft in 2002, which increased to Rs 250 per sq.ft in 2003, marking a 50% rise. Following this, the value rose to Rs 400 per sq.ft in 2007, a 60% increase. In 2012, the guideline value was Rs 2,000 per sq.ft, reflecting a significant 400% increase from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1217%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Abirami Nagar Annexe.

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

Stamp duty and registration fee for property in Abirami Nagar Annexe

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, and the registration fee at 2% would be Rs 44,000, making the total cost 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abirami Nagar Annexe?

The Sub Registrar Office that covers Abirami Nagar Annexe 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 a crucial factor in property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, buyers and sellers must ensure that the transaction value is in accordance with the guideline value. This ensures compliance with local regulations and helps avoid any legal issues during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Abirami Nagar Annexe?

The current guideline value of Abirami Nagar Annexe 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, increasing from Rs 167 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 1217%.

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

Other streets in Nerkundram with a guideline value of Rs 2,200 per sq.ft include Abirami Nagar 3rd Street, Abirami Nagar 2ns Street 3rd Cross Street, and several others.

What is the stamp duty rate in Abirami Nagar Annexe?

The stamp duty rate for property transactions in Abirami Nagar Annexe is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Abirami Nagar Annexe?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Abirami Nagar Annexe.