Guideline Value for AMBEDKAR STREET

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Thiruvancheri village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III 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 2012, the value was set at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the latest revision in 2024 increased it further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, indicating that the guideline value for Ambedkar Street is below this median.

• Agaram Main Road: Rs 2,200 per sq.ft (2024)
• Annai Indira Street: Rs 1,980 per sq.ft (2024)
• Abdul Kalab Street: Rs 1,980 per sq.ft (2024)
• Anna Street: Rs 2,530 per sq.ft (2024)
• Babu Jaga Jeevaram Street: Rs 1,980 per sq.ft (2024)
• Bajani Kovil Street: Rs 1,980 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 amounts to 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 cost to Rs 99,000. It's 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 on the applicable fees.

Which Sub Registrar Office covers Ambedkar Street?

The Sub Registrar Office that covers Ambedkar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thiruvancheri. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that both the buyer and seller are aware of the costs involved in the transaction. This value helps maintain transparency and consistency 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 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 stamp duty and registration fees for properties in Ambedkar Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000 based on the current guideline value.

Which office handles property registrations for Ambedkar Street?

The Pallavaram Sub Registrar Office handles property registrations for Ambedkar Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees when buying or selling property. It serves as a benchmark for these costs, ensuring transparency in property transactions.