Guideline Value for AMBEDKAR STREET (WARD -3)

Ambedkar Street (Ward -3) guideline value

The current guideline value of Ambedkar Street (Ward -3) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Ambedkar Street (Ward -3) has changed

Over the years, the guideline value of Ambedkar Street has seen several revisions. The 2012 revision set the guideline value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for Ambedkar Street in the revisions of 2002, 2003, and 2007. Overall, comparing the guideline values from 2012 to 2024, there has been a net increase of 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Ambedkar Street's 2024 figure above that median.

• Ambedkar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Ambikapathi Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Amman Koil Street (Ward -15): Rs 660 per sq.ft (2024)
• Alayamman Koil Street (Ward -19): Rs 660 per sq.ft (2024)
• Andal Street(Per): Rs 440 per sq.ft (2024)
• Anganur Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Street (Ward -3)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Street (Ward -3)?

The Sub Registrar Office that covers Ambedkar Street (Ward -3) 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 Ninna Karai

The guideline value is a critical factor in the registration process of property transactions in Ninna Karai. It determines the minimum value at which a property can be registered, thereby influencing the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ambedkar Street (Ward -3)?

The current guideline value of Ambedkar Street (Ward -3) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, an increase of 10%. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Ambedkar Street (Ward -3)?

Ambedkar Street (Ward -3) is classified as Residential Class V Type - I, indicating its suitability for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

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 Ambedkar Street (Ward -3)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000, leading to a stamp duty of Rs 92,400.