Guideline Value for Albin Nagar

Albin Nagar guideline value

The current guideline value of Albin Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,310 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Albin Nagar has changed

The guideline value for Albin Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 2,100 per sq.ft in 2012, marking a rise of 950%. However, it then decreased to Rs 1,407 per sq.ft in 2017, reflecting a drop of 33%. The value further increased to Rs 2,100 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 2,310 per sq.ft, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has risen by 1055%. The changes between the revisions highlight the fluctuations in property values in the area, with the most notable increase occurring between 2007 and 2012.

Guideline values in Perungalathur

In Perungalathur village, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is equal to the current guideline value of Albin Nagar.

• Albin Garden Extension: Rs 2,310 per sq.ft (2024)
• Albin Garden: Rs 2,310 per sq.ft (2024)
• Alamelmangapuram: Rs 1,650 per sq.ft (2024)
• Akan Avenue Phase IV: Rs 2,800 per sq.ft (2024)
• Akan Avenue Phase III: Rs 2,800 per sq.ft (2024)
• Akan Avenue: Rs 1,770 per sq.ft (2024)

Stamp duty and registration fee for property in Albin Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. 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 Albin Nagar?

The Sub Registrar Office covering Albin Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees based on this valuation.

When buying or selling property, both the buyer and seller must be aware of the guideline value, as it influences the overall cost associated with the transaction. The guideline value helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Albin Nagar?

The current guideline value of Albin Nagar is Rs 2,310 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 200 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 1055% over the years.

What is the land classification for Albin Nagar?

Albin Nagar is classified under Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for Albin Nagar?

The registration office for Albin Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Albin Nagar?

Stamp duty for properties in Albin Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is an additional 2% of the guideline value.