Guideline Value for Abraham Lincoln Street

Abraham Lincoln Street guideline value

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

How the guideline value of Abraham Lincoln Street has changed

In the 2012 revision, the guideline value for Abraham Lincoln Street was set at Rs 3,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 2,345 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,500 per sq.ft once again. The 2024 revision has now increased the guideline value to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 value for these streets is Rs 1,650 per sq.ft, making the guideline value of Abraham Lincoln Street above that median.

• Abraham Lincoln 3rd cross Street: Rs 1,650 per sq.ft (2024)
• Abraham Lincoln 2st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees 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 also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Abraham Lincoln Street?

The Sub Registrar Office that covers Abraham Lincoln 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 details.

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

The guideline value is a critical factor in property transactions in Chitlapakkam, as it determines the minimum value 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 the transaction adheres to legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value not only influences the financial aspects of the transaction but also serves as a benchmark for property valuation in the area.

Frequently asked questions

What is the current guideline value of Abraham Lincoln Street?

The current guideline value of Abraham Lincoln 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 Street?

Abraham Lincoln Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Abraham Lincoln Street?

The Sub Registrar Office for Abraham Lincoln Street is located at No.26, mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the 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, if the guideline value is Rs 38,50,000, the stamp duty would be 7% of this amount.