Guideline Value for Ambal Nagar

Ambal Nagar guideline value

The current guideline value of Ambal Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Ambal Nagar has changed

The guideline value for Ambal Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was set at Rs 291 per sq.ft. This increased significantly to Rs 550 per sq.ft in 2003, marking an increase of 89%. Following this, the value doubled to Rs 1,100 per sq.ft in 2007, reflecting a 100% change. In 2012, the guideline value was revised to Rs 2,500 per sq.ft, which was a decrease of 33% from the previous figure.

In the subsequent revisions, the value rose to Rs 1,675 per sq.ft in 2017, representing a 49% increase. The most recent revision in 2023 set the guideline value at Rs 2,500 per sq.ft. As of the 2024 revision, the current guideline value stands at Rs 2,750 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the years not mentioned in this register.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Ambal Nagar's 2024 figure is below this median.

• Ambedkar Street: Rs 3,100 per sq.ft (2024)
• Alagapuri Nagar: Rs 3,550 per sq.ft (2024)
• Alagapuri 5th Avenue: Rs 3,550 per sq.ft (2024)
• Alagapuri 4th Avenue: Rs 3,550 per sq.ft (2024)
• Alagapuri 3rd Avenue: Rs 3,550 per sq.ft (2024)
• Alagapuri 2nd Main Road: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Ambal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, these fees total Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambal Nagar?

Ambal Nagar is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Ramapuram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The fees are calculated based on the higher of the guideline value or the sale price of the property.

When a buyer approaches the registration office, the guideline value will be referenced to ensure that the appropriate fees are collected. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Ambal Nagar?

The current guideline value of Ambal Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 291 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 845% over the years.

What are the stamp duty and registration fees for a property in Ambal Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Ambal Nagar?

Ambal Nagar is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Ambal Nagar?

The land classification for Ambal Nagar is Residential Class II Type - II, indicating its designation for residential use.