Guideline Value for AMBEDKAR STREET (WARD -4)

Ambedkar Street (Ward -4) guideline value

The current guideline value of Ambedkar Street (Ward -4) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village under the Chengleput Joint II SRO, and it falls under the land classification of Residential Special Type - V.

How the guideline value of Ambedkar Street (Ward -4) has changed

The guideline value for Ambedkar Street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 1,200 per sq.ft. In the subsequent 2017 revision, this value decreased to Rs 804 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the 2023 revision, rising to Rs 1,200 per sq.ft, followed by another increase to Rs 1,320 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2023 revision showed a 49% increase from the 2017 figure, reflecting notable changes in the property valuation over time. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Ambedkar Street's current value above the median.

• Ambedkar Street (Ward -3): Rs 660 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 -4)

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, making the total cost for these fees 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Street (Ward -4)?

The Sub Registrar Office that covers Ambedkar Street (Ward -4) 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 Kattankollatur

The guideline value is a crucial factor in the registration process when buying or selling properties in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the property transfer.

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 stamp duty. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions and valuations.

Frequently asked questions

What is the current guideline value of Ambedkar Street (Ward -4)?

The current guideline value of Ambedkar Street (Ward -4) 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 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Ambedkar Street (Ward -4)?

Ambedkar Street (Ward -4) is classified as Residential Special Type - V, indicating its suitability for residential purposes.

What are the other streets in Kattankollatur and their guideline values?

Other streets in Kattankollatur include Ambedkar Street (Ward -3) at Rs 660 per sq.ft, Ambikapathi Street (Ward -7) at Rs 1,320 per sq.ft, and Amman Koil Street (Ward -15) at Rs 440 per sq.ft, among others.

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.