Guideline Value for AMBETHKAR STREET

Ambethkar Street guideline value

The current guideline value of Ambethkar Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Ambethkar Street has changed

The guideline value for Ambethkar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure remained until the 2017 revision when it decreased to Rs 1,340 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the 2023 revision, rising to Rs 2,000 per sq.ft, followed by another increase to Rs 2,200 per sq.ft in 2024, representing a 10% increase.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Ambethkar Street.

• Amaravathi Nagar Sarathi Nagar: Rs 2,750 per sq.ft (2024)
• Amaravathi Nagar Anna Street: Rs 2,750 per sq.ft (2024)
• Andal Nagar: Rs 1,320 per sq.ft (2024)
• Alagiri Street: Rs 2,200 per sq.ft (2024)
• Alagar Street: Rs 2,200 per sq.ft (2024)
• Anjaneyar Nagar Phase 1: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambethkar Street?

The Sub Registrar Office that covers Ambethkar 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 Jelandianpettai

The guideline value is a critical factor when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value according to the local regulations. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

The current guideline value of Ambethkar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on Ambethkar Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Ambethkar Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Ambethkar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the range of guideline values in Jelandianpettai?

The guideline values in Jelandianpettai range from Rs 1,320 to Rs 7,500 per sq.ft, with the median value being Rs 2,200 per sq.ft.