Guideline Value for Sri Abirami Nagar

Sri Abirami Nagar guideline value

The current guideline value of Sri Abirami Nagar is Rs 1,004 per sq.ft, effective from 1 July 2024. This area is located in Ariyalur village and falls under the Redhills SRO. It is classified as Residential Class II Type - I.

How the guideline value of Sri Abirami Nagar has changed

The guideline value for Sri Abirami Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 162 per sq.ft, which then increased to Rs 18 per sq.ft in 2003. Following this, the value rose significantly to Rs 200 per sq.ft in 2007, and then to Rs 250 per sq.ft in 2012. However, in 2017, it decreased to Rs 167 per sq.ft. The value saw an increase again to Rs 250 per sq.ft in 2023, before reaching the current value of Rs 1,004 per sq.ft in 2024.

Notably, the most significant change occurred between 2023 and 2024, where the value increased by 302%. Between 2017 and 2023, the increase was 50%. The change from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was 25%. The value rose dramatically from 2003 to 2007 by 1011%, and there was a decrease of 89% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 520%.

Guideline values in Ariyalur

Ariyalur village has 24 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,002 to Rs 1,008 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, placing Sri Abirami Nagar's 2024 figure above that median.

• Shanthi Nagar: Rs 1,004 per sq.ft (2024)
• Subham Nagar: Rs 1,002 per sq.ft (2024)
• P.T.C. Nagar: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street (Colony): Rs 1,002 per sq.ft (2024)
• Perumal Koil Street 4th Cross Street: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street 3rd Cross Street: Rs 1,002 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 1,004 per sq.ft, the total guideline value amounts to Rs 10,04,000. The stamp duty at 7% would be Rs 70,280, and the registration fee at 2% would be Rs 20,080, bringing the total cost for these fees to Rs 90,360. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Abirami Nagar?

The Sub Registrar Office that covers Sri Abirami Nagar 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 Ariyalur

The guideline value plays a crucial role in the registration process when buying or selling property in Ariyalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer and seller must agree on a sale price, but the registration cannot occur below the guideline value. This means that if the sale price is lower than the guideline value, the higher guideline value will be used for calculating stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Sri Abirami Nagar?

The current guideline value of Sri Abirami Nagar is Rs 1,004 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 162 per sq.ft in 2002 to Rs 1,004 per sq.ft in 2024, marking an overall increase of 520%.

What is the registration fee for property in Sri Abirami Nagar?

The registration fee for property in Sri Abirami Nagar is calculated based on the guideline value. For example, for a 1,000 sq.ft plot, the registration fee would be Rs 20,080 at a rate of 2%.

Which office handles property registrations in Sri Abirami Nagar?

The Redhills Sub Registrar Office handles property registrations in Sri Abirami Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Sri Abirami Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 10,04,000, the stamp duty would be Rs 70,280.