Guideline Value for Sri Abiramai Nagar

Sri Abiramai Nagar guideline value

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

How the guideline value of Sri Abiramai Nagar has changed

Over the years, the guideline value for Sri Abiramai Nagar has seen significant changes. The register indicates that in 2002, the guideline value was Rs 186 per sq.ft. This figure increased to Rs 204 per sq.ft in 2003, marking a 10% rise. The value then jumped to Rs 400 per sq.ft in 2007, reflecting a substantial increase of 96%. Following this, in 2012, the value decreased to Rs 2,500 per sq.ft, a decline of 525%. The guideline value rose again to Rs 1,675 per sq.ft in 2017, which was a 33% increase from the previous figure. In 2023, the value was Rs 2,500 per sq.ft, and it saw a 49% increase to Rs 2,750 per sq.ft in the 2024 revision.

There are no figures available for the revisions in the years not mentioned in the register for this street. The 2024 guideline value of Rs 2,750 per sq.ft shows an overall increase of 1,378% from the 2002 figure.

Guideline values in Maduravoyal

In Maduravoyal, there are a total of 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Sri Abiramai Nagar's 2024 figure below this median.

• Sri Ayappa Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sri Ayappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sri Ayappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sri Ayappa Nagar Extension: Rs 2,200 per sq.ft (2024)
• Sri Bakkya Nagar: Rs 2,750 per sq.ft (2024)
• South Mada Veedhi: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Abiramai 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 fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Abiramai Nagar?

The Sub Registrar Office that covers Sri Abiramai Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sri Abiramai Nagar?

The current guideline value for Sri Abiramai 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 changed significantly from Rs 186 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,378% over this period.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations in Sri Abiramai Nagar?

The Virugambakkam Sub Registrar Office handles property registrations for Sri Abiramai Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. The higher value between the guideline value and the sale price is considered for these calculations.