Guideline Value for AMBEDKAR STREET

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Chinnakavanam village is Rs 300 per sq.ft, effective from 1 July 2024. This street falls under the Ponneri SRO and is classified as Residential Class II 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 200 per sq.ft, which was then revised to Rs 134 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 300 per sq.ft, reflecting a rise of 124%. The current figure of Rs 300 per sq.ft has remained unchanged from the 2023 revision to the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for Ambedkar Street. Overall, comparing the 2012 figure to the current 2024 figure, there has been an increase of 50% in the guideline value.

Guideline values in Chinnakavanam

In Chinnakavanam, there are 28 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 300 to Rs 400 per sq.ft. The median guideline value is Rs 300 per sq.ft, placing Ambedkar Street's 2024 figure at the median level.

• Andimuthan Street: Rs 300 per sq.ft (2024)
• Achisolai Street: Rs 300 per sq.ft (2024)
• Anna Nagar: Rs 300 per sq.ft (2024)
• Burma Nagar: Rs 300 per sq.ft (2024)
• G.L.S. Nagar: Rs 300 per sq.ft (2024)
• Jayamani Nagar: Rs 300 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chinnakavanam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial implications of the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023 and has remained the same in 2024.

What is the land classification for Ambedkar Street?

Ambedkar Street is classified as Residential Class II Type - I under the Ponneri SRO.

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

The Sub Registrar Office for Ambedkar Street is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Ambedkar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 300 per sq.ft would incur a stamp duty of Rs 21,000.