Guideline Value for AMBAL NAGAR 1ST STREET

Ambal Nagar 1st Street guideline value

The current guideline value of Ambal Nagar 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Ambal Nagar 1st Street has changed

The guideline value for Ambal Nagar 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 428 per sq.ft, which increased to Rs 494 per sq.ft in 2003, marking a 15% rise. The value continued to climb significantly, reaching Rs 3,719 per sq.ft in 2007, a remarkable increase of 653%. However, from 2007 to 2012, the value decreased to Rs 5,000 per sq.ft, a drop of 33%. The subsequent revision in 2017 saw an increase to Rs 3,350 per sq.ft, followed by a jump to Rs 5,000 per sq.ft in 2023, and finally, the current rate of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1185%. There are no figures available for the revisions in years other than those listed.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value is Rs 4,620 per sq.ft, and Ambal Nagar 1st Street's 2024 figure is above this median.

• Ambal Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• Ambal Nagar Main Road: Rs 8,250 per sq.ft (2024)
• Agathiar Street: Rs 4,620 per sq.ft (2024)
• Anbu Street: Rs 3,080 per sq.ft (2024)
• Adisan Nagar: Rs 4,620 per sq.ft (2024)
• Achuthan Nagar 6th Cross St: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Ambal Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ambal Nagar 1st Street?

The Sub Registrar Office covering Ambal Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is crucial during the registration of property transactions in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions in the area.

Frequently asked questions

What is the current guideline value for Ambal Nagar 1st Street?

The current guideline value for Ambal Nagar 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 428 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 1185% over this period.

What is the land classification for Ambal Nagar 1st Street?

Ambal Nagar 1st Street is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Ambal Nagar 1st Street?

The Sub Registrar Office for Ambal Nagar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Ambal Nagar 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.