Guideline Value for Sri Abirami Nagar

Sri Abirami Nagar guideline value

The current guideline value of Sri Abirami Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Abirami Nagar has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Sri Abirami Nagar is below this median.

• Sri Ambal Nagar: Rs 1,300 per sq.ft (2024)
• Sree Nagar (Ward-04): Rs 1,300 per sq.ft (2024)
• Sri Balaji Avenue: Rs 1,300 per sq.ft (2024)
• Soorappattu Road (Vinayagapuram): Rs 1,300 per sq.ft (2024)
• Soorapat Road (Ward-29): Rs 1,300 per sq.ft (2024)
• S.M.B. Nagar (Ward-11): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Abirami Nagar

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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Abirami Nagar?

The Sub Registrar Office that covers Sri Abirami Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of properties in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be sold or transferred, ensuring that all transactions are recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Abirami Nagar?

The current guideline value of Sri Abirami Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% over this period.

What is the classification of land in Sri Abirami Nagar?

Sri Abirami Nagar is classified as Residential Class III Type - I, which indicates its designation for residential use.

Where can I find the registration office for Sri Abirami Nagar?

The registration office for Sri Abirami Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.