Guideline Value for AMBEDKAR STREET

Ambedkar Street guideline value

The current guideline value of Ambedkar Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ottiyampakkam village under the Selaiyur SRO, classified as Residential Class I 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 the 2012 revision, the value was set at Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft. However, from 2017 to the 2023 revision, the value increased significantly to Rs 1,800 per sq.ft, and then further rose to Rs 1,950 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam village, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,950 per sq.ft, which is the same as the guideline value for Ambedkar Street.

• Amaya: Rs 2,600 per sq.ft (2024)
• Ameer Nagar: Rs 1,950 per sq.ft (2024)
• Agriya Phase 2: Rs 2,400 per sq.ft (2024)
• Annai Avenue: Rs 1,650 per sq.ft (2024)
• Aran: Rs 2,700 per sq.ft (2024)
• Arasangazhani Odai 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 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total cost for these fees to Rs 1,75,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar Street?

The Sub Registrar Office covering Ambedkar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Ottiyampakkam

The guideline value is a crucial factor in property transactions in Ottiyampakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

When you register a property, the guideline value helps establish a baseline for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

What is the land classification for Ambedkar Street?

Ambedkar Street is classified as Residential Class I Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,36,500.