Guideline Value for Ambathur Industrial Estate

Ambathur Industrial Estate guideline value

The current guideline value of Ambathur Industrial Estate is Rs 6,600 per sq.ft, effective from 1 July 2024. This area falls under Mannurpet village and is classified as Industries Type - I under the Konnur SRO.

How the guideline value of Ambathur Industrial Estate has changed

The guideline value for Ambathur Industrial Estate has seen significant changes over the years. In 2002, the guideline value was Rs 430 per sq.ft, which increased to Rs 472 per sq.ft in 2003. Following this, there was a substantial rise to Rs 2,500 per sq.ft in 2007, marking an increase of 430%. The value then reached Rs 6,000 per sq.ft in 2012, which was a 140% increase from the previous revision. However, it decreased to Rs 4,020 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then increased to Rs 6,000 per sq.ft in 2023, followed by the current value of Rs 6,600 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1435%. There are no figures available for revisions in years other than those listed.

Guideline values in Mannurpet

Mannurpet village features 38 streets under the Konnur SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 6,600 per sq.ft. The guideline value for Ambathur Industrial Estate is above the median value of Rs 1,300 per sq.ft in this area.

• Amman Koil Street: Rs 1,700 per sq.ft (2024)
• Anantha Naidu Street: Rs 1,700 per sq.ft (2024)
• Aathimulam Street: Rs 1,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,700 per sq.ft (2024)
• Coramandal Town: Rs 5,500 per sq.ft (2024)
• Elango Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ambathur Industrial Estate

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty is charged at 7%, amounting to Rs 4,62,000, and the registration fee is charged at 2%, which totals Rs 1,32,000. Together, these fees amount to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambathur Industrial Estate?

The Ambathur Industrial Estate is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Mannurpet. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. When a buyer and seller agree on a sale price, the registration process will consider the higher of the guideline value or the agreed sale price to calculate the applicable stamp duty and registration fees.

Understanding the guideline value is essential for both buyers and sellers, as it directly impacts the financial obligations during the registration process. Buyers should be aware of the current guideline values to ensure compliance with legal requirements and to avoid any potential disputes during property transactions.

Frequently asked questions

What is the current guideline value of Ambathur Industrial Estate?

The current guideline value of Ambathur Industrial Estate is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 430 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 1435% over the years.

What are the stamp duty and registration fees for properties in Ambathur Industrial Estate?

For a property valued at Rs 66,00,000, the stamp duty is Rs 4,62,000 and the registration fee is Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for Ambathur Industrial Estate?

The Konnur Sub Registrar Office handles registrations for Ambathur Industrial Estate, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property transactions and is essential for calculating stamp duty and registration fees during the registration process.