Guideline Value for AMBETHKAR NAGAR

Ambethkar Nagar guideline value

The current guideline value of Ambethkar Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Ambethkar Nagar has changed

The guideline value for Ambethkar Nagar has undergone several revisions over the years. In 2002, the value was Rs 111 per sq.ft, which increased to Rs 131 per sq.ft in 2003. The value saw a significant rise to Rs 400 per sq.ft in 2007, followed by a jump to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,650 per sq.ft in 2024.

Between the revisions, notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 275% increase from 2007 to 2012, a 205% increase from 2003 to 2007, and an 18% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1,386%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the guideline value of Ambethkar Nagar equal to this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambethkar Nagar?

The Sub Registrar Office that covers Ambethkar Nagar 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 when registering property transactions 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 stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ambethkar Nagar?

The current guideline value of Ambethkar Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 111 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with several revisions in between. Notable increases occurred from 2003 to 2007 and from 2017 to 2023.

What is the registration office for Ambethkar Nagar?

The registration office for Ambethkar Nagar 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 in Ambethkar Nagar?

Stamp duty in Ambethkar Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

What are the guideline values of other streets in Pallikaranai?

Other streets in Pallikaranai have varying guideline values. For example, Ambethkar Cross St and Ambethkar Nagar Nehru 1st Street have values of Rs 1,650 and Rs 1,110 per sq.ft, respectively.