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 Vallancheri 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 undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017, marking a drop of 33%. In 2023, the value increased to Rs 600 per sq.ft, and then further rose to Rs 660 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Between 2017 and 2023, there was a significant increase of 49%, bringing the value back to Rs 600 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 825 per sq.ft. 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)
• Abode Valley Kakkan Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Annai Therasha Street (Ward-20): Rs 880 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, making the total fees Rs 59,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

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, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vallancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that the fees are based on the higher of the guideline value or the actual sale price, which can affect the total cost of the transaction.

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 seen several changes, with the most recent increase of 10% from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

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

Ambedkar Street (Ward -1) is classified as Residential Class II Type - I. This classification indicates the type of development permissible in the area.

Where can I find the Sub Registrar Office for Ambedkar Street (Ward -1)?

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

How is the stamp duty calculated for properties in Vallancheri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at 7%.