Guideline Value for AMBAL AVENUE

Ambal Avenue guideline value

The current guideline value of Ambal Avenue in Okkiyamthuraipakkam village is Rs 2,800 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of Ambal Avenue has changed

The guideline value for Ambal Avenue has undergone several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which saw a significant increase to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,800 per sq.ft in 2024.

Between these revisions, the changes were notable: from 2007 to 2012, there was a remarkable increase of 400%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023 and has risen by 12% from 2023 to 2024. Overall, the guideline value has increased by 460% from 2007 to 2024.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 3,300 per sq.ft, placing Ambal Avenue's current rate below this median.

• AMBAL AVENUE 1st STREET: Rs 2,800 per sq.ft (2024)
• AMBAL AVENUE 2nd STREET: Rs 2,800 per sq.ft (2024)
• AMBAL AVENUE 3rd STREET: Rs 2,800 per sq.ft (2024)
• AMBAL AVENUE 4th STREET: Rs 2,800 per sq.ft (2024)
• Alagappa Nagar: Rs 1,700 per sq.ft (2024)
• Anand Nagar: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ambal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambal Avenue?

The Sub Registrar Office that covers Ambal Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable charges. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ambal Avenue?

The current guideline value of Ambal Avenue is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 500 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 460% over this period.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with Ambal Avenue's current value being below this median.

What are the registration fees for property transactions?

The registration fees are calculated based on the guideline value or sale price, whichever is higher. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 and a registration fee of Rs 56,000.

Where can I find the Sub Registrar Office for Ambal Avenue?

The Neelankarai Sub Registrar Office covers Ambal Avenue and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.