Guideline Value for Abraham Lincoln 3rd cross Street

Abraham Lincoln 3rd cross Street guideline value

The current guideline value of Abraham Lincoln 3rd cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO. It falls under the Residential Class I Type - III land classification.

How the guideline value of Abraham Lincoln 3rd cross Street has changed

The guideline value for Abraham Lincoln 3rd cross Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision has further raised it to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Between 2017 and 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, 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

In Chitlapakkam, there are 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 guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Abraham Lincoln 3rd cross Street.

• Abraham Lincoln 2st Cross Street: Rs 3,850 per sq.ft (2024)
• Abraham Lincoln Street: Rs 3,850 per sq.ft (2024)
• Abraham Lincoln 1nd Cross 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 3rd cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Please note that 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 details.

Which Sub Registrar Office covers Abraham Lincoln 3rd cross Street?

The Sub Registrar Office covering Abraham Lincoln 3rd 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 the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abraham Lincoln 3rd cross Street?

The current guideline value of Abraham Lincoln 3rd cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for this street?

Abraham Lincoln 3rd cross Street is classified under Residential Class I Type - III.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in this area is 7%, calculated on the higher of the guideline value or the sale price.

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

The Sub Registrar Office covering Abraham Lincoln 3rd cross Street is located at No.26, mes Road, East Tambaram, Chennai-600059.