Guideline Value for AMBEDKAR STREET (WARD -1)

Ambedkar Street (Ward -1) guideline value

The current guideline value of Ambedkar Street (Ward -1) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Potheri village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ambedkar Street (Ward -1) has changed

The guideline value for Ambedkar Street (Ward -1) has seen several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and then rose again to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year. There are no figures available for the revisions in 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The increase from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft as of 2024. The median guideline value in Potheri is Rs 770 per sq.ft, which means that the guideline value for Ambedkar Street (Ward -1) is below this median.

• Ambedkar Street (Ward -20): Rs 880 per sq.ft (2024)
• Ambedkar Street Thailavaram (Ward-21): Rs 660 per sq.ft (2024)
• Amman Koil Street (Ward-20): Rs 880 per sq.ft (2024)
• Annai Indra Street (Ward-21): Rs 660 per sq.ft (2024)
• Annai Therasha Street (Ward-20): Rs 880 per sq.ft (2024)
• Anna Street Potheri (Ward -1): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Street (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar Street (Ward -1)?

The Sub Registrar Office that covers Ambedkar Street (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Potheri, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any penalties. The registration office uses the guideline value to assess the applicable fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Ambedkar Street (Ward -1)?

The current guideline value of Ambedkar Street (Ward -1) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Ambedkar Street (Ward -1)?

Ambedkar Street (Ward -1) is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Ambedkar Street (Ward -1)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total guideline value would be Rs 6,60,000, leading to a total fee of Rs 59,400.

Which Sub Registrar Office covers Ambedkar Street (Ward -1)?

The Chengleput Joint II Sub Registrar Office covers Ambedkar Street (Ward -1), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.