Guideline Value for Ambal Nagar

Ambal Nagar guideline value

The current guideline value of Ambal Nagar, located in Hastinapuram village under the Pallavaram SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is 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 value was set at Rs 509 per sq.ft. This figure increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 430%. However, the value then decreased to Rs 1,809 per sq.ft in 2017, a decline of 33%. The 2023 revision saw another increase to Rs 2,700 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,970 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has risen by 483%. The revisions for the years 2002 and 2003 have no figures available for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value is Rs 2,970 per sq.ft, which is equal to the current value of Ambal Nagar.

• A.K. Nagar(Postal Avenue): Rs 3,850 per sq.ft (2024)
• Amman Koil Street: Rs 2,970 per sq.ft (2024)
• Amman Koil Street Extn.: Rs 1,650 per sq.ft (2024)
• A.G. Colony Extn.: Rs 2,420 per sq.ft (2024)
• Agasthiyar Street Extn.: Rs 3,850 per sq.ft (2024)
• Agasthiyar Street: Rs 3,850 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 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. 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 details.

Which Sub Registrar Office covers Ambal Nagar?

The Sub Registrar Office that covers Ambal Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To locate your SRO, you can find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees. This ensures transparency and fairness in property transactions, as it reflects the official value assigned to the property in the area.

Frequently asked questions

What is the current guideline value of Ambal Nagar?

The current guideline value of Ambal Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 509 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Ambal Nagar?

Ambal Nagar is classified as Residential Class I Type - I.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Ambal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 at 7%.