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 Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this area is 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 undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the latest revision in 2024 raised it further to Rs 660 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is an increase of 10%. The 2017 revision does not have a figure for this street in the register, and there are no figures available for the years 2002, 2003, and 2007.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Ambedkar Street (Ward -3) 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 amounts to 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, bringing the total cost to 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 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 Sattamangalam

The guideline value plays a crucial role in property transactions in Sattamangalam. It is used to determine the stamp duty and registration fees that must be paid when registering a property sale. Buyers and sellers need to be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is bought or sold, the guideline value is assessed to calculate the taxes owed. This ensures that the government receives its due revenue from property transactions, and it helps maintain transparency in the real estate market.

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 in recent years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, marking a 10% increase. From 2012 to 2024, the overall change is an increase of 10%.

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

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

What are the stamp duty and registration fees for properties in this area?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ambedkar Street (Ward -3)?

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