Guideline Value for Abraham Lincoln 1nd Cross Street

Abraham Lincoln 1nd Cross Street guideline value

The current guideline value of Abraham Lincoln 1nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Special Type - II.

How the guideline value of Abraham Lincoln 1nd Cross Street has changed

Over the years, the guideline value for Abraham Lincoln 1nd Cross Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,500 per sq.ft, and the latest revision in 2024 increased it further to Rs 3,850 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% rise. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing the 2024 guideline value of Abraham Lincoln 1nd Cross Street above this median.

• Abraham Lincoln 2st Cross Street: Rs 3,850 per sq.ft (2024)
• Abraham Lincoln 3rd cross Street: Rs 1,650 per sq.ft (2024)
• Abraham Lincoln Street: Rs 3,850 per sq.ft (2024)
• Abdul Rahim street: Rs 1,320 per sq.ft (2024)
• Adiyaman Street: Rs 1,650 per sq.ft (2024)
• Advocate Colony Ramanaidu Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Abraham Lincoln 1nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abraham Lincoln 1nd Cross Street?

The Sub Registrar Office that covers Abraham Lincoln 1nd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value for registration of property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and legally, reflecting the value of the property as determined by the government.

Frequently asked questions

What is the current guideline value of Abraham Lincoln 1nd Cross Street?

The current guideline value of Abraham Lincoln 1nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification of Abraham Lincoln 1nd Cross Street?

Abraham Lincoln 1nd Cross Street is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Abraham Lincoln 1nd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Chitlapakkam?

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 would incur a stamp duty of Rs 2,69,500.