Guideline Value for Abirami Nagar

Abirami Nagar guideline value

The current guideline value of Abirami Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Abirami Nagar has changed

Looking at the revisions, the guideline value for Abirami Nagar was Rs 1,200 per sq.ft in 2023, which remained unchanged from the 2012 revision, also at Rs 1,200 per sq.ft. The register has no figure for the years 2002, 2003, 2007, and 2017 regarding this street.

From 2023 to 2024, the guideline value increased by 8%, moving from Rs 1,200 to Rs 1,300 per sq.ft. Overall, from 2012 to 2024, there has been an increase of 8% in the guideline value.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Abirami Nagar is below this median.

• Abirami Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Aavin Illam (Ward-08): Rs 1,600 per sq.ft (2024)
• Aa.Po.Arasu St (Ward No.18): Rs 1,300 per sq.ft (2024)
• Adhilakshmi Nagar (Ward No.26): Rs 1,300 per sq.ft (2024)
• Adhi Nagar: Rs 1,300 per sq.ft (2024)
• Adhi Sesha Nagar (Ponniamman Medu): Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. 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 detailed calculations.

Which Sub Registrar Office covers Abirami Nagar?

The Sub Registrar Office covering Abirami Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When registering a property, the guideline value serves as a benchmark for the minimum value of the property, ensuring that the transaction is recorded at a fair value as per the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Abirami Nagar?

The current guideline value of Abirami Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023, before increasing to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification of Abirami Nagar?

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

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for property in Abirami Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 91,000.