Guideline Value for Abirami Nagar

Abirami Nagar guideline value

The current guideline value of Abirami Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village and falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Abirami Nagar has changed

The guideline value for Abirami Nagar has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 250 per sq.ft. This increased remarkably to Rs 2,000 per sq.ft in the 2012 revision, marking a substantial rise of 700%. However, in the 2017 revision, it decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in the 2023 revision, which was a 49% increase from the previous figure. The most recent revision in 2024 set the guideline value at Rs 2,160 per sq.ft, an increase of 8% from 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 764%.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, which is the same as the current guideline value for Abirami Nagar.

• Agastheesvarar Nagar: Rs 2,750 per sq.ft (2024)
• A.G.S. Colony: Rs 2,420 per sq.ft (2024)
• A.G.S.Staff Colony: Rs 2,420 per sq.ft (2024)
• Alamaram Street: Rs 2,420 per sq.ft (2024)
• Amaravathi Street: Rs 1,100 per sq.ft (2024)
• Ambedkar Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Abirami Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200. Together, the total cost for stamp duty and registration fee would be Rs 1,94,400. 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 precise calculations.

Which Sub Registrar Office covers Abirami Nagar?

The Sub Registrar Office that covers Abirami Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is conducted at a price that is reflective of the area's market conditions.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are adhering to the legal requirements set forth by the state, making it an essential aspect of property dealings in the region.

Frequently asked questions

What is the current guideline value of Abirami Nagar?

The current guideline value of Abirami Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 250 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, marking an overall increase of 764%.

What is the land classification for Abirami Nagar?

Abirami Nagar falls under the land classification of Residential Class II Type - I.

Where can I find the Sub Registrar Office for Abirami Nagar?

The Sub Registrar Office for Abirami Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for property in Abirami Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 21,60,000, resulting in a stamp duty of Rs 1,51,200.