Guideline Value for AMBEDKAR STREET (WARD -3)

Ambedkar Street (Ward -3) guideline value

The current guideline value of Ambedkar Street (Ward -3) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

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

The guideline value for Ambedkar Street (Ward -3) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased to Rs 600 per sq.ft in the 2023 revision, and currently stands at Rs 660 per sq.ft from the 2024 revision, marking a 10% increase from the previous year. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The significant changes include a 49% increase from 2017 to 2023 and a decrease of 33% from 2012 to 2017.

Guideline values in Panangottur

In Panangottur village, there are 419 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 990 per sq.ft. Ambedkar Street (Ward -3) has a guideline value below this median.

• Ambedkar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Ambikapathi Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Amman Koil Street (Ward -15): Rs 440 per sq.ft (2024)
• Alayamman Koil Street (Ward -19): Rs 440 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering Ambedkar Street (Ward -3) 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 information.

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

The guideline value is a critical factor during property registration in Panangottur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling a property. The guideline value ensures that the transaction is recorded at a fair value as per the government regulations.

When a buyer or seller engages in a property transaction, the guideline value helps in assessing the official value of the property. This value is essential for calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

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 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 currently stands at Rs 660 per sq.ft in 2024.

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

Ambedkar Street (Ward -3) is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties in Ambedkar Street (Ward -3)?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Where is the Sub Registrar Office for Ambedkar Street (Ward -3) located?

The Sub Registrar Office for Ambedkar Street (Ward -3) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.