Guideline Value for Ambal Nagar 2nd Street

Ambal Nagar 2nd Street guideline value

The current guideline value of Ambal Nagar 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class I 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 2012 revision set the value at Rs 1,600 per sq.ft, which was then decreased to Rs 1,072 per sq.ft in the 2017 revision. The value saw a significant increase to Rs 1,600 per sq.ft in 2023, followed by a further rise to Rs 1,700 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that the 2024 figure for Ambal Nagar 2nd Street is below this median.

• Ambal Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Ambal Nagar Main Road: Rs 1,700 per sq.ft (2024)
• Ambal Nagar: Rs 1,700 per sq.ft (2024)
• A.L.S Nagar Main Road: Rs 2,750 per sq.ft (2024)
• A.L.S. Nagar Extension Street: Rs 2,750 per sq.ft (2024)
• A.L.S. Nagar 7th Street: Rs 2,750 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

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 Madambakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

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 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, a 6% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, which is higher than the current guideline value of Ambal Nagar 2nd Street.

What are the stamp duty and registration fees for properties in Ambal Nagar 2nd Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for Ambal Nagar 2nd Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.