Guideline Value for AMBEDKAR STREET (WARD -20)

Ambedkar Street (Ward -20) guideline value

The current guideline value of Ambedkar Street (Ward -20) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Ambedkar Street (Ward -20) has changed

The guideline value for Ambedkar Street has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased to Rs 800 per sq.ft in the 2023 revision and finally rose to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri has a total of 129 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Ambedkar Street's 2024 figure above that median.

• Ambedkar Street (Ward -1): Rs 660 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 -20)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total fees together Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Street (Ward -20)?

The Sub Registrar Office covering Ambedkar Street (Ward -20) 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Potheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government collects the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Ambedkar Street (Ward -20)?

The current guideline value of Ambedkar Street (Ward -20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Ambedkar Street (Ward -20)?

Ambedkar Street (Ward -20) is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Potheri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,80,000, the stamp duty would be calculated at 7% of that amount.