Guideline Value for Ambal Nagar

Ambal Nagar guideline value

The current guideline value of Ambal Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Manancheri village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Ambal Nagar has changed

The guideline value for Ambal Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 350%. However, between 2012 and 2017, the value decreased to Rs 603 per sq.ft, a drop of 33%. The value then rose again to Rs 900 per sq.ft in 2023, a 49% increase, before reaching the current rate of Rs 990 per sq.ft in 2024, reflecting a 10% increase.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 395%.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, which is equal to the current guideline value of Ambal Nagar.

• Amman koil Street: Rs 1,320 per sq.ft (2024)
• Abirami nagar: Rs 1,320 per sq.ft (2024)
• Babu Avenue: Rs 1,430 per sq.ft (2024)
• Babu Avenue I: Rs 1,430 per sq.ft (2024)
• Babu Avenue II: Rs 1,430 per sq.ft (2024)
• Babu Avenue-III: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Ambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambal Nagar?

The Sub Registrar Office that covers Ambal Nagar is the Kunrathur Sub Registrar Office, located at No.59. Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Manancheri. It serves as a benchmark for determining the minimum value at which a property can be sold and registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value affects the calculation of stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, thus impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ambal Nagar?

The current guideline value of Ambal Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, representing an overall increase of 395% over the years.

What are the stamp duty rates for properties in Ambal Nagar?

The stamp duty for properties in Ambal Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59. Road Street, Kundrathur, Chennai -600 069.

How is the guideline value determined for properties in Manancheri?

The guideline value for properties in Manancheri is determined by the Registration Department's guideline value register, which is updated periodically to reflect changes in property values.