Guideline Value for Abraham Street

Abraham Street guideline value

The current guideline value of Abraham Street, located in Adambakkam village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Abraham Street has changed

The guideline value for Abraham Street has seen several revisions over the years. Starting from 2002, the value was Rs 258 per sq.ft. In 2003, it increased to Rs 294 per sq.ft, marking a 14% rise. The value then saw a significant jump to Rs 900 per sq.ft in 2007, which was a 206% increase. By 2012, the value reached Rs 3,500 per sq.ft, reflecting a 289% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, showing a decline of 33%.

In 2023, the guideline value rose to Rs 3,500 per sq.ft, and then in 2024, it increased further to Rs 3,900 per sq.ft, which is an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,412%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Abraham Street. Below are some other streets in Adambakkam:

• Adambakkam Main Road/Karunikar Street: Rs 5,500 per sq.ft (2024)
• Adampakkam 1st Main Street: Rs 3,900 per sq.ft (2024)
• Adampakkam 1st Street: Rs 3,900 per sq.ft (2024)
• Agathiyar Street: Rs 3,900 per sq.ft (2024)
• Alikan Street: Rs 3,900 per sq.ft (2024)
• Amaravathi Street: Rs 3,900 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Together, the total fees would be Rs 3,51,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Abraham Street?

The Sub Registrar Office that covers Abraham Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Adambakkam. It serves as the baseline for calculating stamp duty and registration fees, ensuring that all transactions are documented at a standardized value.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers and sellers should ensure that they are informed about the current rates to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Abraham Street?

The current guideline value of Abraham Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 258 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,412% over the years.

What is the land classification of Abraham Street?

Abraham Street falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for a property in Abraham Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers Abraham Street?

The Alandur Sub Registrar Office covers Abraham Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.