Guideline Value for Dr.ABDULKALAM STREET

Dr.ABDULKALAM STREET guideline value

The current guideline value of Dr.ABDULKALAM STREET is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Commercial Class I Type - III.

How the guideline value of Dr.ABDULKALAM STREET has changed

The guideline value for Dr.ABDULKALAM STREET has seen several revisions over the years. The earliest recorded figure was Rs 150 per sq.ft in 2007, which increased significantly to Rs 1,300 per sq.ft in 2012. However, it then decreased to Rs 871 per sq.ft in 2017. The value remained at Rs 1,300 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 1,300 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 767%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value in this area is Rs 1,000 per sq.ft, placing Dr.ABDULKALAM STREET's 2024 figure above that median.

• Dr.KARUNANITHI CROSS STREET: Rs 1,000 per sq.ft (2024)
• Dr.KARUNANITHI STREET: Rs 1,300 per sq.ft (2024)
• Dr.RADHAKRISHNAN STREET: Rs 1,300 per sq.ft (2024)
• Dr.RAMADOSS STREET: Rs 700 per sq.ft (2024)
• Durai Kannu Street: Rs 1,300 per sq.ft (2024)
• E.A.P.Sivaji Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.ABDULKALAM STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Please 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 Dr.ABDULKALAM STREET?

The Sub Registrar Office covering Dr.ABDULKALAM STREET is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Vengathur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are fairly assessed for tax purposes.

When buying or selling property, both parties must consider the guideline value, as it influences the overall cost of the transaction. It is essential to be aware of the current guideline value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Dr.ABDULKALAM STREET?

The current guideline value of Dr.ABDULKALAM STREET 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 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017. It has remained at Rs 1,300 per sq.ft in both 2023 and 2024.

What is the land classification for Dr.ABDULKALAM STREET?

Dr.ABDULKALAM STREET is classified as Commercial Class I Type - III under the current guidelines.

Where is the Manavalanagar Sub Registrar Office located?

The Manavalanagar Sub Registrar Office is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for property in Dr.ABDULKALAM STREET?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 91,000.