Guideline Value for Albin Nagar

Albin Nagar guideline value

The current guideline value of Albin Nagar, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - II land classification.

How the guideline value of Albin Nagar has changed

The guideline value for Albin Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 373 per sq.ft. This increased to Rs 459 per sq.ft in 2003, marking a 23% rise. The value then saw a further increase to Rs 600 per sq.ft in 2007, which was a 31% increase. Following this, the value jumped significantly to Rs 2,000 per sq.ft in 2012, reflecting a 233% increase. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, followed by a final increase to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 490%. It is important to note that there are no figures available for the revisions in years other than those specified.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Albin Nagar is below this median.

• Alamelupuram: Rs 3,300 per sq.ft (2024)
• Alagesan Street: Rs 6,600 per sq.ft (2024)
• Amal Nagar: Rs 2,200 per sq.ft (2024)
• Ambal Nagar: Rs 2,200 per sq.ft (2024)
• Ambedhkar Street: Rs 2,200 per sq.ft (2024)
• Abdul Razak Street: Rs 6,600 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. 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 more detailed calculations.

Which Sub Registrar Office covers Albin Nagar?

Albin Nagar is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Tambaram. It serves as the basis for calculating the stamp duty and registration fees that must be paid when buying or selling property. This ensures that the transaction is recorded at a value that reflects the official rates set by the government.

When you engage in a property transaction, the guideline value helps establish a transparent and standardized process. It is essential for both buyers and sellers to be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Albin Nagar?

The current guideline value of Albin Nagar is Rs 2,200 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 373 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 490% over this period.

What are the stamp duty and registration fees for property in Albin Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Albin Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Albin Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring a standardized process for buyers and sellers.