Guideline Value for Sri Abirami Nagar Extention

Sri Abirami Nagar Extention guideline value

The current guideline value of Sri Abirami Nagar Extention is Rs 550 per sq.ft, effective from 1 July 2024. This property is located in Pammathukulam village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Abirami Nagar Extention has changed

Over the years, the guideline value for Sri Abirami Nagar Extention has seen several revisions. The earliest recorded value was Rs 100 per sq.ft in 2007. This increased significantly to Rs 500 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 335 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 500 per sq.ft in 2023, and most recently, it has been revised to Rs 550 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street in the register. The overall increase from the 2007 revision to the current 2024 revision stands at 450%.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the current guideline value of Sri Abirami Nagar Extention.

• Sri Abirami Nagar: Rs 550 per sq.ft (2024)
• Sri Abirami Nagar Extention - 1: Rs 550 per sq.ft (2024)
• Sri Abirami Nagar Extn - II: Rs 550 per sq.ft (2024)
• Sri Balaji Nagar: Rs 330 per sq.ft (2024)
• Southern Railway Employees Nagar: Rs 550 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Abirami Nagar Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, leading to a total cost of Rs 49,500. It is important to 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 Sri Abirami Nagar Extention?

The Sub Registrar Office that covers Sri Abirami Nagar Extention is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property registration in Pammathukulam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the property is not undervalued during transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Abirami Nagar Extention?

The current guideline value of Sri Abirami Nagar Extention is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the other streets with similar guideline values in Pammathukulam?

Other streets in Pammathukulam with a 2024 guideline value of Rs 550 per sq.ft include Sri Abirami Nagar and Sri Abirami Nagar Extention - 1, among others.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 5,50,000 would incur a stamp duty of Rs 38,500.

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

The Sub Registrar Office for Sri Abirami Nagar Extention is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.