Guideline Value for Ambal Nagar (Ward-23)

Ambal Nagar (Ward-23) guideline value

The current guideline value of Ambal Nagar (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ambal Nagar (Ward-23) has changed

The guideline value for Ambal Nagar (Ward-23) has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,000 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, the register does not contain figures for Ambal Nagar (Ward-23) for the years mentioned. The current guideline value of Rs 2,200 per sq.ft is above the median value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram that carry a 2024 figure.

Guideline values in Madhavaram

The guideline values for properties in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft, with a median of Rs 1,600 per sq.ft. Ambal Nagar (Ward-23) is positioned above this median. Below are other streets in Madhavaram with their respective guideline values:

• Ambal Nagar,Ponniammanmedu (Ward-24): Rs 2,200 per sq.ft (2024)
• Aman Avenue: Rs 2,200 per sq.ft (2024)
• Alli Nagar (Ward-8): Rs 1,300 per sq.ft (2024)
• Ambedkar St (Ward No.16): Rs 1,300 per sq.ft (2024)
• Ambedkar St (Ward No.23): Rs 1,300 per sq.ft (2024)
• Ambedkhar 1st St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ambal Nagar (Ward-23)

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, bringing the total to Rs 1,98,000. Please note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ambal Nagar (Ward-23)?

The Sub Registrar Office that covers Ambal Nagar (Ward-23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Ambal Nagar (Ward-23)?

The current guideline value for Ambal Nagar (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ambal Nagar (Ward-23) was Rs 2,000 per sq.ft in 2023, which increased to Rs 2,200 per sq.ft in 2024, representing a +10% change. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Ambal Nagar (Ward-23)?

Ambal Nagar (Ward-23) is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Ambal Nagar (Ward-23)?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ambal Nagar (Ward-23)?

The Madhavaram Sub Registrar Office covers Ambal Nagar (Ward-23) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.