Guideline Value for Sri Abinandhan Nagar

Sri Abinandhan Nagar guideline value

The current guideline value of Sri Abinandhan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village and falls under the Pallavaram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Abinandhan Nagar has changed

The guideline value of Sri Abinandhan Nagar has seen several revisions over the years. The earliest recorded value was Rs 300 per sq.ft in 2007, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 817%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the guideline value of Sri Abinandhan Nagar.

• Sri Ganesh Nagar: Rs 1,960 per sq.ft (2024)
• Sivanandam Street: Rs 2,750 per sq.ft (2024)
• Sither Kudiirupu (Pazhndi Amman Koil St.): Rs 1,960 per sq.ft (2024)
• Sidharth Nagar: Rs 1,980 per sq.ft (2024)
• Siddhanathar Nagar: Rs 2,750 per sq.ft (2024)
• Siddathatha Nagar 1 To 6 Streets: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Abinandhan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 Sri Abinandhan Nagar?

The Sub Registrar Office that covers Sri Abinandhan Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nanmangalam

The guideline value is a crucial factor during property registration in Nanmangalam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official value set by the government.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions within the area.

Frequently asked questions

What is the current guideline value of Sri Abinandhan Nagar?

The current guideline value of Sri Abinandhan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 817% over this period.

What are the stamp duty rates for properties in Sri Abinandhan Nagar?

The stamp duty for properties in Sri Abinandhan Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Abinandhan Nagar?

The Sub Registrar Office for Sri Abinandhan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value in Nanmangalam?

The median guideline value in Nanmangalam is Rs 2,750 per sq.ft, which is also the current guideline value for Sri Abinandhan Nagar.