Guideline Value for Ambal Nagar Main Road

Ambal Nagar Main Road guideline value

The current guideline value of Ambal Nagar Main Road is Rs 1,700 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Ambal Nagar Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft. The following revision in 2023 saw a significant increase to Rs 1,600 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,700 per sq.ft, marking a 6% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it saw a decrease of 33%. Overall, comparing the values from 2012 to 2024, there has been a 6% increase. It is important to note that the register does not have figures 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 that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. Ambal Nagar Main Road's 2024 guideline value is below this median.

• Ambal Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Ambal Nagar 1st Street: 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 Main Road

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, charged at 7%, would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be 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 information.

Which Sub Registrar Office covers Ambal Nagar Main Road?

The Sub Registrar Office that covers Ambal Nagar Main Road 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 Madambakkam

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. If the sale price is higher than the guideline value, the duty is charged based on the sale price. This ensures that all transactions are fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Ambal Nagar Main Road?

The current guideline value of Ambal Nagar Main Road 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, marking a 6% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012, showing significant fluctuations over the years.

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

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Ambal Nagar Main Road?

The Selaiyur Sub Registrar Office is responsible for Ambal Nagar Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Ambal Nagar Main Road?

Ambal Nagar Main Road is classified as Residential Class I Type - II, indicating its suitability for residential development.