Guideline Value for AMBETHKAR 1ST MAIN RIGHT 4TH CROSS STREET

Ambethkar 1st Main Right 4th Cross Street guideline value

The current guideline value of Ambethkar 1st Main Right 4th Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ambethkar 1st Main Right 4th Cross Street has changed

Over the years, the guideline value for Ambethkar 1st Main Right 4th Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,474 per sq.ft. The subsequent 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,420 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007.

From the 2012 to 2017 revision, there was a significant decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that the guideline value for Ambethkar 1st Main Right 4th Cross Street is below this median.

• Ambethkar 1st Main Right 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Ambethkar 1st Main Right 5th Cross Street: Rs 2,420 per sq.ft (2024)
• Ambethkar 1st Main Right 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Ambethkar 1st Main Right 6th Cross Street: Rs 2,420 per sq.ft (2024)
• Ambethkar 1st Main Right 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Ambethkar 1st Main Road: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar 1st Main Right 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, while the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambethkar 1st Main Right 4th Cross Street?

The Sub Registrar Office that covers Ambethkar 1st Main Right 4th Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value affects the stamp duty and registration fees applicable during the transaction.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two will be used to calculate the applicable duties and fees. This ensures that transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Ambethkar 1st Main Right 4th Cross Street?

The current guideline value for Ambethkar 1st Main Right 4th Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 increasing it to Rs 2,420 per sq.ft from Rs 2,200 per sq.ft in 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

What is the land classification for this street?

The land classification for Ambethkar 1st Main Right 4th Cross Street is Residential Class III Type - I.

Which office handles property registrations in this area?

The Chennai South Joint I Sub Registrar Office handles property registrations for Ambethkar 1st Main Right 4th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,17,800.