Guideline Value for Abraham Street

Abraham Street guideline value

The current guideline value of Abraham Street in Pammal village, under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Abraham Street has changed

The guideline value for Abraham Street has seen significant changes over the years. The earliest recorded figure is from 2002, which was Rs 174 per sq.ft. This increased to Rs 197 per sq.ft in 2003, marking a rise of 13%. The value further increased to Rs 360 per sq.ft in 2007, a substantial jump of 83%. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a dramatic increase of 235%. In 2023, the value was Rs 1,800 per sq.ft, which was a 49% increase from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, a 10% increase from 2023.

It is important to note that there is no figure available for Abraham Street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,038%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value among these streets is Rs 2,090 per sq.ft, indicating that the guideline value of Abraham Street is below this median.

• Abraham Street, Moovendhar Nagar: Rs 1,980 per sq.ft (2024)
• Adam Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Adam Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Adam Nagar, 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Adam Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Adam Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Abraham Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abraham Street?

The Sub Registrar Office that covers Abraham Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Abraham Street?

The current guideline value of Abraham Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 174 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1,038%.

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

Other streets in Pammal include Abraham Street, Moovendhar Nagar at Rs 1,980 per sq.ft, and several streets in Adam Nagar, all at Rs 2,750 per sq.ft.

How is stamp duty calculated for property in Abraham Street?

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 total stamp duty of Rs 1,38,600.

Where is the Sub Registrar Office for Abraham Street located?

The Sub Registrar Office for Abraham Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.