Guideline Value for Ambdekar Street

Ambdekar Street guideline value

The current guideline value of Ambdekar Street in Konnur village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Ambdekar Street has changed

The guideline value for Ambdekar Street has seen several revisions over the years. In 2002, the value was Rs 395 per sq.ft, which increased to Rs 428 per sq.ft in 2003, marking an 8% rise. The value then experienced a significant jump to Rs 800 per sq.ft in 2007, a 87% increase. By 2012, the guideline value was revised to Rs 3,500 per sq.ft, showing a substantial increase of 338% from the previous revision.

From 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a 33% drop. However, the guideline value rebounded to Rs 3,500 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, which is a 9% rise from 2023. There are no figures available for the years not listed in the register for this street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. Ambdekar Street's 2024 guideline value aligns with this median.

• Ambedkar 1st & 2nd Street: Rs 3,800 per sq.ft (2024)
• Ambedkar Nagar: Rs 3,800 per sq.ft (2024)
• Ambedkar Nagar 1 to 7 Street: Rs 3,800 per sq.ft (2024)
• Amman Kuttai and Streets: Rs 3,800 per sq.ft (2024)
• Akbar Nagar 1 to 4 Street- Akbar Square 1 to 4 Street: Rs 3,800 per sq.ft (2024)
• Agasthiar Nagar: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ambdekar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total charges Rs 3,42,000. Please 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 Ambdekar Street?

The Sub Registrar Office that covers Ambdekar Street is the Konnur Sub Registrar Office, located at 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 Konnur

The guideline value plays a crucial role in property transactions in Konnur. It is used to determine the minimum value at which a property can be registered. When buying or selling a property, the guideline value ensures that the property is not undervalued, providing a standard for taxation and registration purposes.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions within the Konnur region.

Frequently asked questions

What is the current guideline value of Ambdekar Street?

The current guideline value of Ambdekar Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 395 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 862% over the years.

What is the land classification for Ambdekar Street?

Ambdekar Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties on Ambdekar Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 38,00,000, the total charges would be Rs 3,42,000.

Which office handles property registrations for Ambdekar Street?

The Konnur Sub Registrar Office handles property registrations for Ambdekar Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.