Guideline Value for Ambedhkar Street East

Ambedhkar Street East guideline value

The current guideline value of Ambedhkar Street East is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ambedhkar Street East has changed

The guideline value for Ambedhkar Street East has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. This was a decline of 33%. However, the value increased significantly to Rs 2,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Ambedhkar Street East. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, making the 2024 guideline value of Ambedhkar Street East above the median.

• Ambal Nagar 7th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 6th Street: Rs 1,100 per sq.ft (2024)
• Ambedkar Street: Rs 2,700 per sq.ft (2024)
• Ambal Nagar 5th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 3rd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedhkar Street East

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. 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 Ambedhkar Street East?

The Sub Registrar Office that covers Ambedhkar Street East is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying for properties and to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Ambedhkar Street East?

The current guideline value of Ambedhkar Street East is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Ambedhkar Street East?

The land classification for Ambedhkar Street East is Residential Class I Type - III.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Ambedhkar Street East?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.