Guideline Value for Abusali Street - Virugambakkam

Abusali Street - Virugambakkam guideline value

The current guideline value of Abusali Street - Virugambakkam is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Abusali Street - Virugambakkam has changed

The guideline value for Abusali Street has seen significant changes over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased to Rs 6,500 per sq.ft in 2012. However, it then decreased to Rs 4,355 per sq.ft in 2017. The value rose again to Rs 6,500 per sq.ft in 2023, before reaching the current rate of Rs 7,150 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, followed by a 10% increase from 2023 to 2024. The overall increase from 2007 to 2024 stands at 258%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing Abusali Street's 2024 figure above this median.

• Abirami Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• Abirami Nagar 1st Street: Rs 4,950 per sq.ft (2024)
• Alwarthiru Nagar Annexe School View Street: Rs 5,500 per sq.ft (2024)
• Ambethkar Street - Chimtenkulam: Rs 4,400 per sq.ft (2024)
• Anna Colony: Rs 4,400 per sq.ft (2024)
• Annaji Rao Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Abusali Street - Virugambakkam

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total to Rs 6,43,500. 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 details.

Which Sub Registrar Office covers Abusali Street - Virugambakkam?

The Sub Registrar Office that covers Abusali Street - Virugambakkam is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value or the sale price—whichever is higher—will be used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value of Abusali Street - Virugambakkam?

The current guideline value of Abusali Street - Virugambakkam is Rs 7,150 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,000 per sq.ft in 2007 to the current Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 258% over this period.

What is the land classification for Abusali Street - Virugambakkam?

The land classification for Abusali Street - Virugambakkam is Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Abusali Street?

The Sub Registrar Office for Abusali Street - Virugambakkam is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Virugambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 at a rate of 7%.