Guideline Value for AMBETHKAR CROSS ST

Ambethkar Cross St guideline value

The current guideline value of Ambethkar Cross St is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai 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 Cross St has changed

The guideline value for Ambethkar Cross St has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. However, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

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

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Ambethkar Cross St.

• Ambethkar Nagar: Rs 1,650 per sq.ft (2024)
• Ambethkar Nagar Nehru 1st Street: Rs 1,110 per sq.ft (2024)
• Ambethkar Nagar Nehru 2nd Street: Rs 1,110 per sq.ft (2024)
• Ambethkar Nagar Nehru 3rd Street: Rs 1,110 per sq.ft (2024)
• Amman Koil Salai: Rs 1,320 per sq.ft (2024)
• Ambathkar Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Cross St

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambethkar Cross St?

The Sub Registrar Office that covers Ambethkar Cross St 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 Pallikaranai

The guideline value is an essential factor in the registration process for property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that both parties are aware of the minimum value set for the property, which helps in maintaining transparency in real estate transactions. It is crucial for buyers and sellers to consider this value when negotiating sale prices.

Frequently asked questions

What is the current guideline value of Ambethkar Cross St?

The current guideline value of Ambethkar Cross St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Ambethkar Cross St?

Ambethkar Cross St is classified as Residential Class IV Type - I.

What are the registration fees for property in Ambethkar Cross St?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ambethkar Cross St located?

The Sub Registrar Office for Ambethkar Cross St is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.