Guideline Value for AMBETHKAR STREET

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Thelliyaragaram village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ambethkar Street has changed

The guideline value for Ambethkar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and then rose again to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

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

Guideline values in Thelliyaragaram

In Thelliyaragaram village, there are 16 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 3,300 per sq.ft, with a median value of Rs 1,210 per sq.ft. Ambethkar Street's 2024 figure is below this median.

• Ambethkar Nagar Road: 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 Street

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 at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambethkar Street?

The Sub Registrar Office covering 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 Thelliyaragaram

The guideline value is a critical factor in the registration process for property transactions in Thelliyaragaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential to refer to the latest guideline value to ensure compliance with registration requirements and to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

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

How has the guideline value changed over the years?

Over the years, the guideline value has seen several revisions, with the most recent increase of 10% from Rs 700 per sq.ft in 2023 to Rs 770 per sq.ft in 2024.

What is the land classification of Ambethkar Street?

Ambethkar Street is classified as Residential Class IV Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Ambethkar Street?

The Sub Registrar Office for 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.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for registering property transactions, determining the minimum value for stamp duty and registration fees. It is crucial for both buyers and sellers to refer to the latest guideline value during transactions.