Guideline Value for Abraham Street

Abraham Street guideline value

The current guideline value of Abraham Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Abraham Street has changed

The guideline value for Abraham Street has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 275% rise. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 313%. The changes from the previous revisions indicate fluctuations in the guideline value, with the most substantial increase occurring from 2012 to 2017, followed by a notable rise in the most recent revision.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Abraham Street's 2024 figure below the median.

• Adhikesavanpillai Street Block 38: Rs 4,100 per sq.ft (2024)
• Adhikesavan Street: Rs 4,100 per sq.ft (2024)
• Abdul Razak Street: Rs 3,300 per sq.ft (2024)
• Alagirisamy Salai: Rs 7,700 per sq.ft (2024)
• Alagiri Street: Rs 3,300 per sq.ft (2024)
• Alayamaistry Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, 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 Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for all property transactions. Buyers should be aware of the guideline value to ensure compliance with legal requirements and to avoid any potential issues 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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 313% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office is responsible for Abraham Street?

The Ashok Nagar Sub Registrar Office is responsible for Abraham Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Where can I find more information about guideline values in Kodambakkam?

For more information about guideline values in Kodambakkam, you can refer to the registration department's guideline value register or visit the relevant Sub Registrar Office.