Guideline Value for Abirami nagar

Abirami nagar guideline value

The current guideline value of Abirami nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Manancheri village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Abirami nagar has changed

Over the years, the guideline value of Abirami nagar has seen significant changes. The 2007 revision recorded a value of Rs 250 per sq.ft, which increased dramatically to Rs 1,200 per sq.ft in 2012, marking a rise of 380%. However, it then decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and most recently, it has increased to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has risen by 428%, highlighting the fluctuations in property valuation over the years.

Guideline values in Manancheri

In Manancheri village, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value of Abirami nagar is above this median.

• Ambal Nagar: Rs 990 per sq.ft (2024)
• Amman koil Street: Rs 1,320 per sq.ft (2024)
• Babu Avenue: Rs 1,430 per sq.ft (2024)
• Babu Avenue I: Rs 1,430 per sq.ft (2024)
• Babu Avenue II: Rs 1,430 per sq.ft (2024)
• Babu Avenue-III: Rs 1,430 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, leading to a total cost of Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abirami nagar?

The Sub Registrar Office that covers Abirami nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manancheri. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures 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 1,320 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 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 428% over the years.

What are the other streets in Manancheri with their guideline values?

Other streets in Manancheri include Ambal Nagar at Rs 990 per sq.ft, Amman koil Street at Rs 1,320 per sq.ft, and several streets on Babu Avenue at Rs 1,430 per sq.ft.

What are the stamp duty and registration fees for property in Abirami nagar?

For a 1,000 sq.ft plot, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800 based on the current guideline value.

Where is the Sub Registrar Office for Abirami nagar located?

The Sub Registrar Office for Abirami nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.