Guideline Value for AMBETHKAR NAGAR NEHRU 1ST STREET

Ambethkar Nagar Nehru 1st Street guideline value

The current guideline value for Ambethkar Nagar Nehru 1st Street is Rs 1,110 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Ambethkar Nagar Nehru 1st Street has changed

The guideline value for Ambethkar Nagar Nehru 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,110 per sq.ft, which reflects an increase from Rs 1,000 per sq.ft in the 2023 revision. This change represents an 11% rise. Prior to that, the 2017 revision recorded a guideline value of Rs 670 per sq.ft, marking a significant increase of 49% to the 2023 value. The 2012 revision also set the value at Rs 1,000 per sq.ft, which was a decrease of 33% from the 2017 figure. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 11%. The revisions show a fluctuating trend, with the most significant change occurring between 2017 and 2023.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, indicating that Ambethkar Nagar Nehru 1st Street's current value is below this median.

• Ambethkar Nagar Nehru 2nd Street: Rs 1,110 per sq.ft (2024)
• Ambethkar Nagar Nehru 3rd Street: Rs 1,110 per sq.ft (2024)
• Ambethkar Nagar: Rs 1,650 per sq.ft (2024)
• Ambethkar Cross St: Rs 1,650 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 Nagar Nehru 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, leading to a total of Rs 99,900. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ambethkar Nagar Nehru 1st Street?

The Sub Registrar Office that covers Ambethkar Nagar Nehru 1st 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, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers adhere to the legal requirements set by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government collects the appropriate revenue based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Ambethkar Nagar Nehru 1st Street?

The current guideline value of Ambethkar Nagar Nehru 1st Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2023 to Rs 1,110 per sq.ft in 2024, an increase of 11%. It was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012, showing a significant fluctuation over the years.

What is the land classification for Ambethkar Nagar Nehru 1st Street?

Ambethkar Nagar Nehru 1st Street is classified as Residential Class IV Type - III, indicating its intended use for residential purposes.

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

The Sub Registrar Office for Ambethkar Nagar Nehru 1st 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 higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 11,10,000, the stamp duty would be Rs 77,700 at 7%.