Guideline Value for AMBIGAI NAGAR

Ambigai Nagar guideline value

The current guideline value of Ambigai Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ambigai Nagar has changed

The guideline value for Ambigai Nagar has undergone several revisions over the years. In 2002, the value was set at Rs 224 per sq.ft, which increased to Rs 263 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, marking an increase of 90%. However, it experienced a substantial jump to Rs 1,400 per sq.ft in 2012, reflecting a 180% increase from the previous revision. The value then decreased to Rs 938 per sq.ft in 2017, a decline of 33%. The guideline value rose again to Rs 1,400 per sq.ft in 2023, before reaching the current rate of Rs 1,500 per sq.ft in 2024, which is a 7% increase.

Overall, from 2002 to 2024, the guideline value has increased by 570%. There are no figures available for the revisions in years other than those listed.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that Ambigai Nagar's current value is below this median.

• Amsa Thottam: Rs 3,300 per sq.ft (2024)
• Anjugam Nagar--1: Rs 3,300 per sq.ft (2024)
• Anjugam Nagar--2: Rs 3,300 per sq.ft (2024)
• Anna Colony: Rs 3,700 per sq.ft (2024)
• Annai Gengammal Street: Rs 1,300 per sq.ft (2024)
• Abc Avenue: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ambigai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty, charged at 7%, would be Rs 1,05,000, and the registration fee, at 2%, would be Rs 30,000. Therefore, the total cost for stamp duty and registration fees would be Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambigai Nagar?

The Sub Registrar Office covering Ambigai Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruvottiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvottiyur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the established rates for the specific area.

Frequently asked questions

What is the current guideline value of Ambigai Nagar?

The current guideline value of Ambigai Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 224 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 570% over this period.

What is the classification of land in Ambigai Nagar?

Ambigai Nagar is classified as Residential Class II Type - II, which is important for understanding the guidelines and regulations applicable to property in this area.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 1,35,000 in fees.

Which office handles property registrations in Ambigai Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations in Ambigai Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.