Guideline Value for AMBEDKAR 1ST STREET

Ambedkar 1st Street guideline value

The current guideline value of Ambedkar 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class V Type - I.

How the guideline value of Ambedkar 1st Street has changed

The guideline value of Ambedkar 1st Street has seen several revisions over the years. In 2002, the value was Rs 178 per sq.ft, which increased to Rs 199 per sq.ft in 2003, marking a 12% rise. The value then rose significantly to Rs 400 per sq.ft in 2007, showing an increase of 101%. By 2012, it reached Rs 1,000 per sq.ft, reflecting a substantial 150% increase from the previous revision. However, the value dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 1,000 per sq.ft, and the latest revision in 2024 raised it to Rs 1,100 per sq.ft, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 518%. There are no figures available for the years between these revisions for Ambedkar 1st Street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that have a guideline value for 2024, ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Ambedkar 1st Street is below this median.

• Ambedkar 2nd Street: Rs 1,100 per sq.ft (2024)
• A.M.Ali Street: Rs 1,700 per sq.ft (2024)
• All India Radio Staff Colony: Rs 2,200 per sq.ft (2024)
• All Indian Radio 4th Street: Rs 3,900 per sq.ft (2024)
• All Indian Radio 3rd Street: Rs 3,900 per sq.ft (2024)
• All Indian Radio 2nd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar 1st Street?

The Sub Registrar Office that covers Ambedkar 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Palavakkam, as it determines the minimum value at which a property can be registered. It is essential for calculating the stamp duty and registration fees that buyers must pay during the registration process.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid penalties. The registration office uses this value to assess the applicable duties, ensuring that transactions comply with local regulations.

Frequently asked questions

What is the current guideline value of Ambedkar 1st Street?

The current guideline value of Ambedkar 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 178 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 518% over this period.

What is the land classification for Ambedkar 1st Street?

Ambedkar 1st Street is classified as Residential Class V Type - I.

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

The Sub Registrar Office for Ambedkar 1st Street is located at Neelankarai Sub Registrar Office, 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 99,000.