Guideline Value for Ambal Nagar 7th Street

Ambal Nagar 7th Street guideline value

The current guideline value of Ambal Nagar 7th 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 7th Street has changed

The guideline value for Ambal Nagar 7th Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. In 2023, the value increased to Rs 1,000 per sq.ft, and the latest revision in 2024 set the value at Rs 1,100 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The transition from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ambal Nagar 7th Street's 2024 figure below that median.

• Ambal Nagar 6th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 5th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 1st Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ambal Nagar 7th 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, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambal Nagar 7th Street?

The Sub Registrar Office that covers Ambal Nagar 7th 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 details.

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

The guideline value is a crucial factor in property transactions in Chembakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as it directly impacts the stamp duty and registration fees applicable at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. This helps maintain transparency in the real estate market and ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ambal Nagar 7th Street?

The current guideline value of Ambal Nagar 7th Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 setting it at Rs 1,100 per sq.ft, an increase from Rs 1,000 per sq.ft in 2023.

What is the land classification for Ambal Nagar 7th Street?

Ambal Nagar 7th Street is classified as Residential Class III Type - II according to the local regulations.

Where can I find the Sub Registrar Office for Ambal Nagar 7th Street?

The Sub Registrar Office for Ambal Nagar 7th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the stamp duty rate applicable in Chembakkam?

The stamp duty rate applicable in Chembakkam is 7% of the guideline value or the sale price, whichever is higher.