Guideline Value for Abirami Nagar

Abirami Nagar guideline value

The current guideline value of Abirami Nagar, located in Mudichur village under the Padappai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Abirami Nagar has changed

The guideline value for Abirami Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 150 per sq.ft, which saw a significant increase to Rs 2,000 per sq.ft in the 2012 revision. However, this value decreased by 33% to Rs 1,340 per sq.ft in 2017. Following this, the 2023 revision raised the guideline value to Rs 2,000 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,200 per sq.ft, marking a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1367%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value for Abirami Nagar.

• Abibullah Nagar: Rs 2,200 per sq.ft (2024)
• Adhi Lakshmi Street: Rs 1,760 per sq.ft (2024)
• Adhimoolar Street: Rs 1,210 per sq.ft (2024)
• Alamelu Nagar: Rs 1,210 per sq.ft (2024)
• A.L.S. Greenland: Rs 1,210 per sq.ft (2024)
• A.L.S.Nagar: Rs 1,760 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to 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 accurate calculations.

Which Sub Registrar Office covers Abirami Nagar?

The Sub Registrar Office that covers Abirami Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the baseline for stamp duty and registration fees. When buying or selling property in Mudichur, the guideline value helps establish a transparent pricing mechanism that both buyers and sellers can rely upon.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abirami Nagar?

The current guideline value of Abirami Nagar 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 150 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1367% over this period.

What are the stamp duty rates in Abirami Nagar?

The stamp duty rate for property transactions in Abirami Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Abirami Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the basis for calculating stamp duty and registration fees. It ensures that the fees are aligned with the property's value, providing a fair framework for both buyers and sellers.