Guideline Value for Abu Nagar

Abu Nagar guideline value

The current guideline value of Abu Nagar is Rs 275 per sq.ft, effective from 1 July 2024. This street is located in Sokandi village under the Sunguvarchattram SRO, classified as Residential Special Type - II.

How the guideline value of Abu Nagar has changed

The guideline value for Abu Nagar has seen several revisions over the years. In 2007, the value was Rs 50 per sq.ft, which increased significantly to Rs 275 per sq.ft in 2012. However, it then dropped to Rs 184 per sq.ft in 2017 before returning to Rs 275 per sq.ft in both 2023 and the current 2024 revision. The register has no figure for this street in 2002 and 2003.

Between the revisions, the changes were notable. From 2007 to 2012, the value increased by 450%. However, from 2012 to 2017, it decreased by 33%. The value then increased by 49% from 2017 to 2023, with no change from 2023 to 2024, resulting in an overall increase of 450% from 2007 to 2024.

Guideline values in Sokandi

Sokandi village has 35 streets under the Sunguvarchattram SRO, with 2024 guideline values ranging from Rs 181 to Rs 1,000 per sq.ft. The median value is Rs 300 per sq.ft, placing Abu Nagar's 2024 figure below that median.

• Anada Kabaleeswarar Nagar Extn-I: Rs 800 per sq.ft (2024)
• Anandam Kabaleeswarar Co-Operative Nagar: Rs 600 per sq.ft (2024)
• Anandha kabalishwarar nagar extension.: Rs 800 per sq.ft (2024)
• Annai Nagar: Rs 250 per sq.ft (2024)
• Arul Nagar: Rs 250 per sq.ft (2024)
• Bharathiyar Street: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Abu Nagar

For a 1,000 sq.ft plot at the current rate of Rs 275 per sq.ft, the guideline value would be Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, totaling Rs 24,750. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Abu Nagar?

The Abu Nagar area falls under the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an important factor when buying or selling property in Sokandi. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that the guideline value may influence the overall cost of the transaction.

When a property is registered, the guideline value serves as a benchmark for calculating fees, ensuring that the transaction is documented accurately. It is essential for both buyers and sellers to understand how this value impacts their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Abu Nagar?

The current guideline value of Abu Nagar is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 50 per sq.ft in 2007 to Rs 275 per sq.ft in 2012, then dropping to Rs 184 per sq.ft in 2017, and returning to Rs 275 per sq.ft in 2023 and 2024.

What is the land classification for Abu Nagar?

Abu Nagar is classified as Residential Special Type - II, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for properties in Abu Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 24,750.

Where can I find the Sub Registrar Office for Abu Nagar?

The Sub Registrar Office covering Abu Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.