Guideline Value for AMBETHKAR NAGAR NEHRU 2ND STREET

Ambethkar Nagar Nehru 2nd Street guideline value

The current guideline value for Ambethkar Nagar Nehru 2nd Street is Rs 1,110 per sq.ft. 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 - III.

How the guideline value of Ambethkar Nagar Nehru 2nd Street has changed

Over the years, the guideline value for Ambethkar Nagar Nehru 2nd Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,110 per sq.ft, an increase from Rs 1,000 per sq.ft in 2023, marking an 11% rise. Prior to that, in 2017, the value was Rs 670 per sq.ft, reflecting a significant increase of 49% by 2023. The 2012 revision also set the value at Rs 1,000 per sq.ft, but there was a decrease of 33% to Rs 670 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has increased by 11%.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. The last available figures before 2012 were not documented in the register.

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 in this area is Rs 1,650 per sq.ft, placing the 2024 figure for Ambethkar Nagar Nehru 2nd Street below this median.

• Ambethkar Nagar Nehru 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total cost for these fees to Rs 99,900. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambethkar Nagar Nehru 2nd Street?

The Sub Registrar Office that covers Ambethkar Nagar Nehru 2nd 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 Pallikaranai

The guideline value is a crucial factor during property registration in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value for Ambethkar Nagar Nehru 2nd Street?

The current guideline value for Ambethkar Nagar Nehru 2nd Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How much 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, which is an 11% increase. It was Rs 670 per sq.ft in 2017, reflecting a 49% increase by 2023.

What is the land classification for Ambethkar Nagar Nehru 2nd Street?

The land classification for Ambethkar Nagar Nehru 2nd Street is Residential Class IV Type - III, indicating its suitability for residential development.

Where can I find the registration office for this area?

The registration office for Ambethkar Nagar Nehru 2nd 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 the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700 at 7%.