Guideline Value for AMBEDKAR STREET

Ambedkar Street guideline value

The current guideline value of Ambedkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The value then saw a significant increase in the 2023 revision, where it rose to Rs 3,000 per sq.ft, and further increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures listed for Ambedkar Street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which matches the current value for Ambedkar Street.

• Ambal Nagar: Rs 2,750 per sq.ft (2024)
• Alliance Galleria Residency: Rs 4,400 per sq.ft (2024)
• Ammani ammal Street: Rs 3,300 per sq.ft (2024)
• Amman Koil street: Rs 3,520 per sq.ft (2024)
• Alamaram Street: Rs 3,300 per sq.ft (2024)
• Anantharam Street: Rs 3,520 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Zaminpallavaram. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair valuation according to the local market standards. This helps in maintaining transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Ambedkar Street?

Ambedkar Street is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What is the stamp duty rate for properties in Ambedkar Street?

The stamp duty rate for properties in Ambedkar Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Ambedkar Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.