Guideline Value for DR.A.P.J. ABDUL KALAM NAGAR

Dr.A.P.J. Abdul Kalam Nagar guideline value

The current guideline value of Dr.A.P.J. Abdul Kalam Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Chinnasekkadu village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Dr.A.P.J. Abdul Kalam Nagar has changed

Over the years, the guideline value for Dr.A.P.J. Abdul Kalam Nagar has seen several revisions. In 2012, the guideline value was Rs 1,500 per sq.ft, which later decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly by 49% to Rs 1,500 per sq.ft in 2023. However, in the latest revision for 2024, the guideline value has decreased again to Rs 1,300 per sq.ft, reflecting a 13% drop from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, comparing the revisions from 2012 to 2024, there has been a 13% decrease in the guideline value.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Dr.A.P.J. Abdul Kalam Nagar is above this median.

• Devarajan Street: Rs 1,500 per sq.ft (2024)
• Chinna Kannu Street / Chinna Kannu Naickan Street: Rs 1,001 per sq.ft (2024)
• Chandran Street: Rs 1,300 per sq.ft (2024)
• Chandramman Koil Street: Rs 1,300 per sq.ft (2024)
• Govindaswamy Street: Rs 1,001 per sq.ft (2024)
• Bharathi Dasan Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.A.P.J. Abdul Kalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. 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 details on fees applicable to your property transaction.

Which Sub Registrar Office covers Dr.A.P.J. Abdul Kalam Nagar?

The Sub Registrar Office that covers Dr.A.P.J. Abdul Kalam Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for additional information.

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

The guideline value plays a crucial role in property transactions in Chinnasekkadu. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must refer to the current guideline value to ensure compliance with the legal requirements during the registration process.

When a property is sold, the guideline value is considered to ascertain the minimum value for taxation purposes. This helps in ensuring that the transaction is recorded accurately and that the appropriate fees are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Dr.A.P.J. Abdul Kalam Nagar?

The current guideline value of Dr.A.P.J. Abdul Kalam Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and decreased to Rs 1,300 per sq.ft in 2024.

What is the land classification for Dr.A.P.J. Abdul Kalam Nagar?

Dr.A.P.J. Abdul Kalam Nagar is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at the current guideline value would incur a total cost of Rs 1,17,000 in fees.

Which office handles property registrations for Dr.A.P.J. Abdul Kalam Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations for Dr.A.P.J. Abdul Kalam Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.