Guideline Value for AMBETHKAR 5TH MAIN ROAD LEFT CROSS STREET

Ambethkar 5th Main Road Left Cross Street guideline value

The current guideline value of Ambethkar 5th Main Road Left Cross Street is Rs 2,200 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 IV Type - I.

How the guideline value of Ambethkar 5th Main Road Left Cross Street has changed

The guideline value for Ambethkar 5th Main Road Left Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft. The changes between these revisions are notable; from 2017 to 2023, there was a significant increase of 49%, while the increase from 2023 to 2024 was 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. This lack of data means there are no recorded changes during those years.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft, with a median value of Rs 2,530 per sq.ft. The guideline value of Ambethkar 5th Main Road Left Cross Street is below this median.

• Ambethkar 5th Main Road: Rs 2,420 per sq.ft (2024)
• Ambethkar 5th Main Road Right Cross Street: Rs 2,420 per sq.ft (2024)
• Ambethkar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Ambethkar Arcot Cross Road: Rs 2,420 per sq.ft (2024)
• Ambethkar 4th Main Road: Rs 2,420 per sq.ft (2024)
• Ambethkar 4th Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar 5th Main Road Left Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is 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 Ambethkar 5th Main Road Left Cross Street?

The Sub Registrar Office that covers Ambethkar 5th Main Road Left 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. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Manapakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. The guideline value is set by the government and can vary from one street to another, reflecting the area's characteristics and development.

When selling a property, the guideline value is often referenced to establish a baseline for negotiations. Buyers and sellers should be aware of the current guideline value to ensure a fair transaction and comply with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Ambethkar 5th Main Road Left Cross Street?

The current guideline value of Ambethkar 5th Main Road Left Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Ambethkar 5th Main Road Left Cross Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Ambethkar 5th Main Road Left 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.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.