Guideline Value for AMBEDKAR STREET

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Chemmancheri village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has seen several revisions over the years. In 2003, the value was Rs 86 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007, marking a change of +481%. The value then rose to Rs 1,500 per sq.ft in 2012, reflecting a growth of +200%. However, it decreased to Rs 1,005 per sq.ft in 2017, a drop of -33%. The subsequent revision in 2023 brought the value back up to Rs 1,500 per sq.ft, and the latest revision in 2024 set it at Rs 1,700 per sq.ft, which is an increase of +13%.

Overall, from 2003 to 2024, the guideline value has increased by +1,877%. The register does not have a figure for the year 2002 for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, which is equal to the 2024 figure for Ambedkar Street.

• Alamelu Mangapuram (Sri): Rs 1,700 per sq.ft (2024)
• Adhi Lakshmi / Kalaiarasi Garden: Rs 1,100 per sq.ft (2024)
• Abdul Karim Garden: Rs 3,300 per sq.ft (2024)
• Abdul Hussain Garden: Rs 3,300 per sq.ft (2024)
• Annai Sathya Street: Rs 1,700 per sq.ft (2024)
• Annamalai Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost together Rs 1,53,000. It is important to note that the stamp 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?

The Sub Registrar Office that covers Ambedkar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

When buying or selling property in Chemmancheri, the guideline value is used as a benchmark to determine the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

The guideline value also plays a crucial role in the registration process, as it helps in establishing a fair value for the property being transacted. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration of property.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 86 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, showing an overall increase of +1,877% over the years.

What is the land classification of Ambedkar Street?

Ambedkar Street falls under the Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for Ambedkar Street?

The Sub Registrar Office for Ambedkar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for property in Ambedkar Street?

Stamp duty for property in Ambedkar Street is calculated based on the higher of the guideline value or the sale price. For example, on a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,19,000.