Guideline Value for AMBETHKAR NAGAR ROAD

Ambethkar Nagar Road guideline value

The current guideline value of Ambethkar Nagar Road is Rs 770 per sq.ft, effective from 1 July 2024. This road is located in Thelliyaragaram 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 Nagar Road has changed

The guideline value for Ambethkar Nagar Road has undergone several revisions over the years. In 2007, the guideline value was set at Rs 200 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a 250% rise. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 700 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, an increase of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Ambethkar Nagar Road. Overall, from 2007 to 2024, the guideline value has increased by 285%.

Guideline values in Thelliyaragaram

In Thelliyaragaram, there are 16 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,210 per sq.ft, indicating that the guideline value for Ambethkar Nagar Road is below this median.

• Ambethkar Street: Rs 770 per sq.ft (2024)
• Amman Koil Street Colony: Rs 1,650 per sq.ft (2024)
• Das Avenue: Rs 1,650 per sq.ft (2024)
• Gangaiamman Koil Cross Street: Rs 1,100 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,100 per sq.ft (2024)
• G.S.R.Garden: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Nagar Road

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty is charged at 7%, totaling Rs 53,900, while the registration fee is 2%, amounting to Rs 15,400. Together, the total cost for stamp duty and registration fee is Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambethkar Nagar Road?

The Sub Registrar Office that covers Ambethkar Nagar Road 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 Thelliyaragaram

The guideline value plays a crucial role in the registration process when buying or selling property in Thelliyaragaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, ensuring that both the buyer and seller comply with local regulations.

When a property is sold, the actual sale price or the guideline value, whichever is higher, is considered for calculating these fees. This means that if the sale price is lower than the guideline value, the latter will be used to determine the stamp duty and registration fees owed.

Frequently asked questions

What is the current guideline value of Ambethkar Nagar Road?

The current guideline value of Ambethkar Nagar Road is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, marking an overall increase of 285% over this period.

What are the other streets in Thelliyaragaram with their guideline values?

Other streets in Thelliyaragaram include Ambethkar Street at Rs 770 per sq.ft, Amman Koil Street Colony at Rs 1,650 per sq.ft, and Das Avenue at Rs 1,650 per sq.ft, among others.

How is the stamp duty calculated for properties in Ambethkar Nagar Road?

Stamp duty is calculated based on the higher of the guideline value or the actual sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 770 per sq.ft, the stamp duty would amount to Rs 53,900.

Where can I find the Sub Registrar Office for Ambethkar Nagar Road?

The Sub Registrar Office for Ambethkar Nagar Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more information online.