Guideline Value for AMBALAVANAN STREET

Ambalavanan Street guideline value

The current guideline value for Ambalavanan Street is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Ambalavanan Street has changed

The guideline value for Ambalavanan Street has seen several revisions over the years. The earliest recorded revision is from 2003, with a guideline value of Rs 1,250 per sq.ft. This figure increased to Rs 1,600 per sq.ft in 2007, marking a significant rise of 28%. The value then surged dramatically to Rs 4,900 per sq.ft in 2012, reflecting a 206% increase. However, it experienced a decline to Rs 3,283 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 4,900 per sq.ft in 2023, before reaching the current value of Rs 5,300 per sq.ft in 2024, an increase of 8%.

It is important to note that there are no recorded figures for Ambalavanan Street in the 2002 revision. Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by 324%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value for Ambalavanan Street is below this median.

• Amaravathi Nagar West I St Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar West II Nd Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar West III Rd Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar Main Road: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar East I St Cross Street: Rs 6,600 per sq.ft (2024)
• Amaravathi Nagar East II Nd Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ambalavanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total cost for these fees to Rs 4,77,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambalavanan Street?

The Sub Registrar Office that covers Ambalavanan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two amounts is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ambalavanan Street?

The current guideline value of Ambalavanan Street is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2003 to Rs 5,300 per sq.ft in 2024, reflecting an overall increase of 324% over the years.

What is the land classification for Ambalavanan Street?

Ambalavanan Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

What are the stamp duty rates for properties in Ambalavanan Street?

The stamp duty for properties in Ambalavanan Street is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.

Where can I find the Sub Registrar Office for Ambalavanan Street?

The Kodambakkam Sub Registrar Office covers Ambalavanan Street and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.