Guideline Value for Ambal Street

Ambal Street guideline value

The current guideline value of Ambal Street in Satthankadu village, under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - III.

How the guideline value of Ambal Street has changed

The guideline value for Ambal Street has seen several revisions over the years. Starting from Rs 267 per sq.ft in 2002, it increased to Rs 309 per sq.ft in 2003, marking a 16% rise. The value then rose to Rs 400 per sq.ft in 2007, reflecting a 29% increase. The next revision in 2012 saw the value jump significantly to Rs 3,100 per sq.ft, which was a remarkable 675% increase. However, this value dropped to Rs 2,077 per sq.ft in 2017, indicating a decrease of 33%. The guideline value then increased to Rs 3,100 per sq.ft in 2023, and finally, it reached Rs 3,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1173%. There are no figures available for the revisions in years not mentioned in the register.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,400 per sq.ft, which is equal to the current guideline value of Ambal Street.

• Anna Colony: Rs 3,400 per sq.ft (2024)
• Annammal Colony: Rs 3,400 per sq.ft (2024)
• Arignar Anna Nagar: Rs 3,400 per sq.ft (2024)
• Ayyapillai Thotta Street: Rs 3,400 per sq.ft (2024)
• Balakrishna Naidu Colony: Rs 3,400 per sq.ft (2024)
• Basin Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ambal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000. Together, the total cost for stamp duty and registration fee would be Rs 3,06,000. 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 details.

Which Sub Registrar Office covers Ambal Street?

The Sub Registrar Office that covers Ambal Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Satthankadu. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for the transaction. It is essential for both parties to understand that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the correct fees are paid to the authorities.

Frequently asked questions

What is the current guideline value of Ambal Street?

The current guideline value of Ambal Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 267 per sq.ft in 2002 and reaching Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 1173% over the years.

What is the land classification of Ambal Street?

Ambal Street is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

Where is the Sub Registrar Office for Ambal Street located?

The Sub Registrar Office for Ambal Street is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties on Ambal Street?

Stamp duty for properties on Ambal Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 at 7%.