Guideline Value for Ambedgar Street

Ambedgar Street guideline value

The current guideline value of Ambedgar Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Padappai village, under the Padappai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ambedgar Street has changed

The guideline value for Ambedgar Street has seen several revisions over the years. In 2007, the guideline value was Rs 85 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 606% rise. However, between 2012 and 2017, there was a decrease to Rs 402 per sq.ft, which represents a decline of 33%. The value then increased again to Rs 600 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, showing a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 676%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, which means Ambedgar Street's 2024 figure is below that median.

• Anitha Nagar: Rs 830 per sq.ft (2024)
• Abi's Asirvad Avenue Extension: Rs 3,100 per sq.ft (2024)
• Abi's Asirvad Avenue: Rs 3,300 per sq.ft (2024)
• Annai Arul Nagar: Rs 660 per sq.ft (2024)
• Anna Nagar: Rs 660 per sq.ft (2024)
• Arumugam Nagar: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedgar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedgar Street?

The Sub Registrar Office that covers Ambedgar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padappai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ambedgar Street?

The current guideline value of Ambedgar Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 85 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, marking an overall increase of 676% over the years.

What are the other streets in Padappai with their guideline values?

Other streets in Padappai include Anitha Nagar at Rs 830 per sq.ft, Abi's Asirvad Avenue Extension at Rs 3,100 per sq.ft, and Abi's Asirvad Avenue at Rs 3,300 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Ambedgar Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

Which office handles registrations for Ambedgar Street?

The Padappai Sub Registrar Office handles registrations for Ambedgar Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.