Guideline Value for AMBEDKAR STREET

Ambedkar Street guideline value

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

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has undergone several revisions over the years. In 2003, the value was Rs 112 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007, marking a substantial rise of 346%. Following this, the value jumped to Rs 1,500 per sq.ft in 2012, reflecting a 200% increase. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,700 per sq.ft in 2024, representing a 13% increase.

Overall, from 2003 to 2024, the guideline value has increased by an impressive 1,418%. It is important to note that there is no figure available for Ambedkar Street in the 2002 revision.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value of Ambedkar Street is below this median.

• Ankala Parameswari Street: Rs 1,100 per sq.ft (2024)
• Adityaram Seashell Avenue: Rs 3,900 per sq.ft (2024)
• Anna Enclave: Rs 3,300 per sq.ft (2024)
• Adhithya Avenue: Rs 2,800 per sq.ft (2024)
• Aavin Street (Near Ecr): Rs 2,200 per sq.ft (2024)
• Annai Theresa Road: 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. Together, the total cost for stamp duty and registration fee would be Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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 Enjambakkam

The guideline value plays a crucial role in property transactions in Enjambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that the property is valued appropriately for taxation purposes. This helps maintain transparency and consistency in property transactions within the area.

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 significantly from Rs 112 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, representing an overall increase of 1,418% over this period.

What is the registration office for Ambedkar Street?

The registration 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.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 1,53,000.

How do guideline values affect property transactions?

Guideline values are used to determine the stamp duty and registration fees during property transactions. These values ensure that properties are valued appropriately for taxation and maintain transparency in the buying and selling process.