Guideline Value for AMBETHKAR NAGAR 1ST MAIN CROSS ROAD

Ambethkar Nagar 1st Main Cross Road guideline value

The current guideline value for Ambethkar Nagar 1st Main Cross Road is Rs 2,420 per sq.ft. 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 Nagar 1st Main Cross Road has changed

The guideline value for Ambethkar Nagar 1st Main Cross Road has seen several revisions over the years. Starting from Rs 139 per sq.ft in 2002, the value increased to Rs 155 per sq.ft in 2003. The next significant jump occurred in 2007 when the value rose to Rs 400 per sq.ft. Following that, in 2012, the value was recorded at Rs 2,200 per sq.ft, but it then dropped to Rs 1,474 per sq.ft in 2017. The value then increased to Rs 2,200 per sq.ft in 2023 before reaching the current figure of Rs 2,420 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. There was a substantial increase of 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. The value saw a significant rise of 450% from 2007 to 2012 and an increase of 158% from 2003 to 2007. Additionally, there was a 12% increase from 2002 to 2003. Overall, the guideline value has increased by 1,641% from 2002 to 2024.

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. The median value for these streets is Rs 2,530 per sq.ft, making the guideline value for Ambethkar Nagar 1st Main Cross Road below this median.

• Ambethkar Nagar 1st Main Road 5th Cross River View Colony Link Road: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar 2nd Main Road: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar 3rd Main Cross Road: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar 3rd Main Road: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar Left Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Nagar 1st Main Cross Road

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, and the registration fee at 2% would be Rs 48,400, bringing the total fees together to Rs 2,17,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambethkar Nagar 1st Main Cross Road?

The Sub Registrar Office that covers Ambethkar Nagar 1st Main Cross Road is the Chennai South Joint I Sub Registrar Office. The address is 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 is a crucial factor when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions. Buyers should be aware that the duty is levied on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ambethkar Nagar 1st Main Cross Road?

The current guideline value of Ambethkar Nagar 1st Main Cross Road 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 significantly from Rs 139 per sq.ft in 2002 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 1,641% over this period.

What is the land classification for Ambethkar Nagar 1st Main Cross Road?

The land classification for Ambethkar Nagar 1st Main Cross Road is Residential Class III Type - I.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles registrations for properties in Ambethkar Nagar 1st Main Cross Road?

The Chennai South Joint I Sub Registrar Office handles registrations for properties in Ambethkar Nagar 1st Main Cross Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.