Guideline Value for AMBEDKAR NAGAR

Ambedkar Nagar guideline value

The current guideline value of Ambedkar Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Ponneri village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ambedkar Nagar has changed

The guideline value register for Ambedkar Nagar has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 300 per sq.ft. This value saw a significant increase in the 2024 revision, rising to Rs 700 per sq.ft, marking a change of +133% from the previous year.

The 2024 revision's guideline value of Rs 700 per sq.ft is equal to the median value for the 120 streets in Ponneri under the Ponneri SRO, which ranges from Rs 201 to Rs 1,200 per sq.ft.

Guideline values in Ponneri

In Ponneri, the guideline values vary across different streets. The current guideline value of Ambedkar Nagar is aligned with the median of Rs 700 per sq.ft. Below are other streets in Ponneri with their respective 2024 guideline values:

• Ambedkar Street: Rs 700 per sq.ft (2024)
• Anandi Salai & Nagar: Rs 700 per sq.ft (2024)
• Angamuthu Mudali St: Rs 1,200 per sq.ft (2024)
• Angamuthu Mudali Street: Rs 900 per sq.ft (2024)
• Adhithya Garden: Rs 1,200 per sq.ft (2024)
• Annai Avenue: Rs 700 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 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty, charged at 7%, would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost to Rs 63,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ambedkar Nagar?

The Sub Registrar Office covering Ambedkar Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a buyer or seller engages in a property transaction, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are levied. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ambedkar Nagar?

The current guideline value of Ambedkar Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 300 per sq.ft to Rs 700 per sq.ft, which is a change of +133%.

What is the classification of land in Ambedkar Nagar?

Ambedkar Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated in Ponneri?

Stamp duty in Ponneri is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.