Guideline Value for AMBEDKAR NAGAR

Ambedkar Nagar guideline value

The current guideline value for Ambedkar Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village, under the Kodambakkam SRO, classified as Residential Class IV Type - II.

How the guideline value of Ambedkar Nagar has changed

The guideline value for Ambedkar Nagar has seen several revisions over the years. In 2007, the value was set at Rs 700 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 471%. However, in the following revision in 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 529%. Notably, the register has no figures for the years 2002 and 2003 for this street.

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 Ambedkar Nagar is below this median.

• Ambalavanan Street: Rs 5,300 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Ambedkar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Ambedkar Nagar?

The Sub Registrar Office that covers Ambedkar Nagar 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 is a crucial factor in property transactions in Arumbakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value for Ambedkar Nagar?

The current guideline value for Ambedkar Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 529% over the years.

What are the other streets in Arumbakkam with their guideline values?

Other streets in Arumbakkam include Ambalavanan Street at Rs 5,300 per sq.ft and various Amaravathi Nagar streets, all valued at Rs 6,600 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Ambedkar Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a property valued at Rs 44,00,000 would incur a total fee of Rs 3,96,000.

Where can I find the Sub Registrar Office for Ambedkar Nagar?

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