Guideline Value for AMBETHKAR NAGAR RIGHT CROSS STREET

Ambethkar Nagar Right Cross Street guideline value

The current guideline value of Ambethkar Nagar Right Cross Street is Rs 2,420 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 III Type - I.

How the guideline value of Ambethkar Nagar Right Cross Street has changed

The guideline value for Ambethkar Nagar Right Cross Street has seen several revisions over the years. The earliest available revision is from 2012, which set the guideline value at Rs 2,200 per sq.ft. This was followed by a decrease in 2017 to Rs 1,474 per sq.ft, marking a decline of 33%. In 2023, the value increased significantly to Rs 2,200 per sq.ft, and then it rose again to Rs 2,420 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The jump from 2017 to 2023 was particularly notable, with a 49% increase. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

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 guideline value for these streets is Rs 2,530 per sq.ft, indicating that the guideline value for Ambethkar Nagar Right Cross Street is below this median.

• Ambethkar Nagar River Joint Road: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar Salai: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar Left Cross Street: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar 3rd Main Road: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar 3rd Main Cross Road: Rs 2,420 per sq.ft (2024)
• Ambethkar Nagar 2nd Main Road: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Nagar Right Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty, charged at 7%, would be Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Together, these fees amount to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambethkar Nagar Right Cross Street?

The Sub Registrar Office that covers Ambethkar Nagar Right 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

When buying or selling property in Manapakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are calculated based on the official guideline value set by the authorities.

Buyers and sellers must be aware that the guideline value is used to assess the minimum value for the transaction. If the sale price exceeds the guideline value, the stamp duty will be calculated on the higher amount, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ambethkar Nagar Right Cross Street?

The current guideline value of Ambethkar Nagar Right Cross Street 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 from Rs 2,200 per sq.ft in 2023 to Rs 2,420 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,474 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Ambethkar Nagar Right Cross Street?

The land classification for Ambethkar Nagar Right Cross Street is Residential Class III Type - I, indicating its designation for residential use.

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

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 2,17,800 in fees based on the current guideline value.

Which office handles property registrations in Manapakkam?

The Chennai South Joint I Sub Registrar Office handles property registrations in Manapakkam. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.