Guideline Value for AMBATHKAR STREET

Ambathkar Street guideline value

The current guideline value of Ambathkar Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Ambathkar Street has changed

The guideline value for Ambathkar Street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. The next revision in 2023 brought the value back up to Rs 1,200 per sq.ft, and then in 2024, it increased to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Ambathkar Street.

Guideline values in Pallikaranai

In Pallikaranai, there are a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that Ambathkar Street's 2024 guideline value is below this median.

• Ambal Nagar Main Road: Rs 1,980 per sq.ft (2024)
• All Workers Labour Colony: Rs 1,650 per sq.ft (2024)
• Ambethkar Cross St: Rs 1,650 per sq.ft (2024)
• Ambethkar Nagar: Rs 1,650 per sq.ft (2024)
• Ambethkar Nagar Nehru 1st Street: Rs 1,110 per sq.ft (2024)
• Ambethkar Nagar Nehru 2nd Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Ambathkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ambathkar Street?

The Sub Registrar Office that covers Ambathkar 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 Pallikaranai

The guideline value is a crucial factor in the registration process for property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the government. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ambathkar Street?

The current guideline value of Ambathkar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Ambathkar Street?

Ambathkar Street is classified as Residential Class IV Type - II.

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

The Sub Registrar Office for Ambathkar 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.

How is stamp duty calculated for properties in Ambathkar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.