Guideline Value for AMBEDKAR STREET

Ambedkar Street guideline value

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

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has seen significant changes over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. However, in the 2023 revision, the guideline value was Rs 300 per sq.ft, which increased to Rs 700 per sq.ft in the 2024 revision, marking a change of +133%.

This increase reflects the current guideline value, which is now equal to the median guideline value of Rs 700 per sq.ft for the 120 streets in Ponneri under the Ponneri SRO that carry a 2024 figure. The previous revisions did not provide any figures for this street, making the recent changes notable.

Guideline values in Ponneri

A total of 120 streets in Ponneri have been assigned a guideline value for 2024, ranging from Rs 201 to Rs 1,200 per sq.ft, with a median of Rs 700 per sq.ft. Ambedkar Street's guideline value aligns with this median.

• Ambedkar Nagar: Rs 700 per sq.ft (2024)
• Anandi Salai & Nagar: Rs 700 per sq.ft (2024)
• Angamuthu Mudali St: Rs 1,200 per sq.ft (2024)
• Angamuthu Mudali Street: Rs 900 per sq.ft (2024)
• Adhithya Garden: Rs 1,200 per sq.ft (2024)
• Annai Avenue: Rs 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations based on your specific property details.

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. For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration process when buying or selling property in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to assess the applicable taxes, which are calculated based on either the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

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

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 300 per sq.ft to Rs 700 per sq.ft, reflecting a change of +133%.

What is the land classification for Ambedkar Street?

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

Where can I find the Ponneri Sub Registrar Office?

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

How is the 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, for a property valued at Rs 7,00,000, the stamp duty would amount to Rs 49,000 at a rate of 7%.