Guideline Value for Abraham Lincoln 2st Cross Street

Abraham Lincoln 2st Cross Street guideline value

The current guideline value of Abraham Lincoln 2st 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, and is classified as Residential Special Type - II.

How the guideline value of Abraham Lincoln 2st Cross Street has changed

The guideline value for Abraham Lincoln 2st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2017 revision, the value dropped to Rs 2,345 per sq.ft. The most recent revision in 2024 increased the guideline value to Rs 3,850 per sq.ft, marking a 10% increase from the 2023 figure of Rs 3,500 per sq.ft and a significant 49% increase from the 2017 figure.

Between 2012 and 2017, there was a decrease of 33% in the guideline value, while from 2012 to 2024, the overall change is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that the 2024 figure for Abraham Lincoln 2st Cross Street is above this median.

• Abraham Lincoln 1nd 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 2st 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 fees together to Rs 3,46,500. 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 on fees applicable to your property transaction.

Which Sub Registrar Office covers Abraham Lincoln 2st Cross Street?

The Sub Registrar Office that covers Abraham Lincoln 2st 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 is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties adhere to the legal requirements of the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the registration process. This value serves as a benchmark for the transaction and helps in assessing the financial aspects of property dealings in the area.

Frequently asked questions

What is the current guideline value of Abraham Lincoln 2st Cross Street?

The current guideline value of Abraham Lincoln 2st 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 2023 to Rs 3,850 per sq.ft in 2024, a 10% increase. It was Rs 2,345 per sq.ft in 2017, showing a 49% increase from that figure to the current value.

What is the land classification for Abraham Lincoln 2st Cross Street?

The land classification for Abraham Lincoln 2st Cross Street is Residential Special Type - II, indicating its designated use for residential purposes.

How is stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty would be Rs 2,69,500 for a property valued at Rs 38,50,000.

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

The Sub Registrar Office for Abraham Lincoln 2st Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information by visiting the relevant link.