Guideline Value for SHRI ABIRAMI NAGAR

Shri Abirami Nagar guideline value

The current guideline value of Shri Abirami Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Koladi village under the Chennai South Joint II SRO and falls under the Residential Class II Type - III land classification.

How the guideline value of Shri Abirami Nagar has changed

Over the years, the guideline value of Shri Abirami Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 402 per sq.ft in 2017, a decline of 33%. Following this, the value surged to Rs 600 per sq.ft in 2023, and with the latest revision in 2024, it stands at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. The overall change from the 2007 revision to the 2024 revision shows a substantial increase of 230% in the guideline value.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that have a guideline value for 2024, ranging from Rs 660 to Rs 4,000 per sq.ft. The median value is Rs 1,100 per sq.ft, indicating that the guideline value of Shri Abirami Nagar is below this median.

• Shri Devi Karumari Nagar: Rs 1,100 per sq.ft (2024)
• Shri Karumari Nagar: Rs 1,100 per sq.ft (2024)
• Shri Sivasakthi Vinayagar Nagar: Rs 1,100 per sq.ft (2024)
• Seshadhri Street: Rs 660 per sq.ft (2024)
• Sivan Koil Street: Rs 660 per sq.ft (2024)
• Senthamizh Nagar Main And Cross Streets: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Abirami Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shri Abirami Nagar?

The Sub Registrar Office that covers Shri Abirami Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Koladi. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value is used to ascertain the amount of tax payable during the registration process. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Shri Abirami Nagar?

The current guideline value of Shri Abirami Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 200 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, an overall increase of 230% over the years.

What is the median guideline value in Koladi?

The median guideline value in Koladi is Rs 1,100 per sq.ft, with Shri Abirami Nagar's value being below this median.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Shri Abirami Nagar?

The Chennai South Joint II Sub Registrar Office handles registrations for Shri Abirami Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.