Guideline Value for AMBAL NAGAR 2ND STREET

Ambal Nagar 2nd Street guideline value

The current guideline value of Ambal Nagar 2nd 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 2nd Street has changed

The guideline value for Ambal Nagar 2nd Street has seen significant changes over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 428 per sq.ft. This increased to Rs 494 per sq.ft in 2003, marking a 15% rise. The value continued to grow, reaching Rs 3,719 per sq.ft in 2007, which represents a substantial increase of 653%. In 2012, the value was recorded at Rs 5,000 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision saw the value rise to Rs 3,350 per sq.ft, followed by a significant increase to Rs 5,000 per sq.ft in 2023, and finally to the current value of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1185%. There are no other years in the register that provide figures for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry 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 2nd Street's 2024 figure is above this median.

• Ambal Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, totaling Rs 4,95,000. It is important to note that 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 information.

Which Sub Registrar Office covers Ambal Nagar 2nd Street?

The Sub Registrar Office that covers Ambal Nagar 2nd 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 additional assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is registered, the guideline value is used to assess the applicable duties. This ensures that the transaction is officially recognized and that all necessary fees are paid according to the established rates. Understanding the guideline value is essential for anyone involved in real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Ambal Nagar 2nd Street?

The current guideline value of Ambal Nagar 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 428 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 1185%.

What is the land classification for Ambal Nagar 2nd Street?

The land classification for Ambal Nagar 2nd Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Ambal Nagar 2nd 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 2nd 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%.