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. This street is located in Vallancheri village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

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

The guideline value for Ambedkar Street (Ward -20) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 880 per sq.ft, an increase from Rs 800 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 536 per sq.ft, which represented a significant increase of 49% from the previous revision in 2012, where it was Rs 800 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The fluctuations in the values highlight the changes in the real estate landscape, with the 2012 to 2017 period reflecting a decrease of 33% before the subsequent increases in later years.

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. The median value for these streets is Rs 825 per sq.ft, placing Ambedkar Street (Ward -20) above this median with its current value of Rs 880 per sq.ft.

• 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)
• 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 -20)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total cost for duty and registration Rs 79,200. It is important to note that the 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 details.

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

The Sub Registrar Office that covers 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 information.

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 a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When a property is sold, the guideline value helps in assessing the transaction value for taxation purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any potential legal issues during the registration process.

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 much has the guideline value changed from 2012 to 2024?

From 2012 to 2024, the guideline value of Ambedkar Street (Ward -20) has increased by 10%, moving from Rs 800 per sq.ft in 2012 to Rs 880 per sq.ft in 2024.

What are the registration fees for property in Ambedkar Street (Ward -20)?

The registration fee for property in Ambedkar Street (Ward -20) is calculated at 2% of the guideline value. For a 1,000 sq.ft plot, this would amount to Rs 17,600 based on the current guideline value.

Which Sub Registrar Office handles registrations for Ambedkar Street (Ward -20)?

The Chengleput Joint II Sub Registrar Office handles registrations for Ambedkar Street (Ward -20), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum price at which a property can be registered. It is used to calculate the stamp duty and registration fees, ensuring that the transaction complies with local regulations.