Guideline Value for AMBEDKAR STREET

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Karapakkam 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 II Type - III.

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision marked a rise to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,700 per sq.ft, reflecting a change of +13% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 240%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with the median value being Rs 1,700 per sq.ft. Ambedkar Street's 2024 figure aligns with this median.

• Anna Street/Nagar: Rs 2,200 per sq.ft (2024)
• Ariangar Anna Street: Rs 2,200 per sq.ft (2024)
• ARIANGAR ANNA STREET 1st CROSS: Rs 1,700 per sq.ft (2024)
• Arunachalam Street: Rs 1,100 per sq.ft (2024)
• Avvaiyar Street: Rs 2,200 per sq.ft (2024)
• Avvaiyar Street (East): Rs 2,200 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, leading to a total of Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Karapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to assess the transaction's legitimacy. Buyers and sellers must be aware that the registration fees and stamp duties are calculated based on this value or the sale price, whichever is higher, to avoid any discrepancies during the registration process.

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 500 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 240% over the years.

What is the land classification of Ambedkar Street?

Ambedkar Street is classified as Residential Class II Type - III under the Neelankarai SRO.

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 properties in Ambedkar Street?

Stamp duty for properties in Ambedkar Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% applies to the same value.