Guideline Value for AMBETHKAR STREET

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur 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 seen several revisions over the years. In 2002, the value was Rs 887 per sq.ft, which increased to Rs 982 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,300 per sq.ft in 2007, reflecting a significant increase of 32%. Following this, the value surged to Rs 6,500 per sq.ft in 2012, an increase of 400%. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 6,500 per sq.ft in 2023, and finally reached the current rate of Rs 7,150 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 706%. There are no figures available for the revisions in the years not mentioned.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, placing Ambethkar Street's 2024 figure below this median.

• A.I.B.E.A. Nagar: Rs 7,150 per sq.ft (2024)
• A.G.S. Colony Extention: Rs 8,250 per sq.ft (2024)
• A.G.S. Colony 2nd Main Road: Rs 8,250 per sq.ft (2024)
• A.G.S. Colony 1st Main Road: Rs 8,250 per sq.ft (2024)
• A.G.S. Colony 1st 2nd & 3rd Street: Rs 8,250 per sq.ft (2024)
• Anna Colony: Rs 9,900 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, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total to Rs 6,43,500. It is important to note that 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 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 Thiruvanmiyur

The guideline value plays a crucial role during the registration process of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

The current guideline value of Ambethkar Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 887 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, showing an overall increase of 706% across the years.

What are the stamp duty and registration fees for property in Ambethkar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 71,50,000. The stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Which office handles the registration for Ambethkar Street?

The registration for Ambethkar Street is handled by 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.

What is the median guideline value in Thiruvanmiyur?

The median guideline value in Thiruvanmiyur is Rs 9,900 per sq.ft, with Ambethkar Street's 2024 figure being below this median.