Guideline Value for AMBEDKAR STREET

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Perungudi village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class V Type - I.

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for Ambedkar Street for the years 2002, 2003, and 2007.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Ambedkar Street's 2024 figure is below this median.

• Anna Nedunchalai: Rs 3,900 per sq.ft (2024)
• Anna Netunchalai (Mayanam Salai): Rs 3,900 per sq.ft (2024)
• Athiyaman Street: Rs 2,800 per sq.ft (2024)
• Atrium: Rs 2,800 per sq.ft (2024)
• Avvaiyar Street: Rs 2,800 per sq.ft (2024)
• Balagangatharar Thilakar Street: 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 Perungudi

The guideline value is a crucial factor when registering property transactions in Perungudi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the other streets in Perungudi with their guideline values?

Other streets in Perungudi include Anna Nedunchalai and Anna Netunchalai (Mayanam Salai) at Rs 3,900 per sq.ft, and Athiyaman Street, Atrium, and Avvaiyar Street at Rs 2,800 per sq.ft, among others.

How is the stamp duty calculated for properties in Ambedkar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000.

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

The Sub Registrar Office covering 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.