Guideline Value for Ambal Nagar 2nd Street

Ambal Nagar 2nd Street guideline value

The current guideline value of Ambal Nagar 2nd Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Ambal Nagar 2nd Street has changed

The guideline value for Ambal Nagar 2nd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, this figure dropped to Rs 670 per sq.ft in the 2017 revision, before rising to Rs 1,000 per sq.ft again in 2023. The most recent revision in 2024 has established the current guideline value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. The overall increase from the 2007 revision to the current 2024 rate is 267%, showcasing the fluctuations in the guideline value over the years.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, placing Ambal Nagar 2nd Street's 2024 figure below this median.

• Ambal Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 5th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 6th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 7th Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ambal Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambal Nagar 2nd Street?

The Sub Registrar Office that covers Ambal Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chembakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the transaction is recorded accurately and complies with local regulations.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is referenced to ascertain the applicable fees. This value is essential for both parties to understand their financial obligations during the property transaction process.

Frequently asked questions

What is the current guideline value of Ambal Nagar 2nd Street?

The current guideline value of Ambal Nagar 2nd Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Ambal Nagar 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for Ambal Nagar 2nd Street, located at No.36, Bharathmatha Salai, Chennai - 600 073.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring compliance with local regulations.