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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

The guideline value for Ambedkar Street (Ward -4) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was later adjusted to Rs 804 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 1,320 per sq.ft, a change of 10% from the previous year.

It is important to note that there are no figures available for Ambedkar Street in the revisions for the years 2002, 2003, and 2007. Overall, from the 2012 revision to the current 2024 figure, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value. The values range from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. Ambedkar Street (Ward -4) has a guideline value above this 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, 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 a detailed calculation, you can use the stamp duty and registration fee calculator.

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

The Chengleput Joint II Sub Registrar Office covers Ambedkar Street (Ward -4). The office is 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 plays a crucial role in property transactions in Panangottur. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing property. This ensures that the government receives appropriate revenue based on the assessed value of the property.

When selling property, the guideline value helps in setting a benchmark for the sale price. It provides a reference point for both buyers and sellers to negotiate and finalize the sale, ensuring transparency in the property transaction process.

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 increased 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 for Ambedkar Street (Ward -4)?

The land classification for Ambedkar Street (Ward -4) is Residential Special Type - V.

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.

How is the stamp duty calculated for property in Ambedkar Street (Ward -4)?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.