Guideline Value for Ambedhkar Street

Ambedhkar Street guideline value

The current guideline value of Ambedhkar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village under the Padappai SRO, classified as Residential Special Type - II.

How the guideline value of Ambedhkar Street has changed

The guideline value for Ambedhkar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. The value then increased to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, which is a rise of 10% from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Ambedhkar Street.

• Amball Nagar: Rs 990 per sq.ft (2024)
• Amal Nagar: Rs 990 per sq.ft (2024)
• Ambika Nagar: Rs 1,650 per sq.ft (2024)
• Albin nagar: Rs 1,320 per sq.ft (2024)
• Amman Nagar: Rs 1,650 per sq.ft (2024)
• Adhanur Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedhkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would amount to Rs 16,50,000. The stamp duty charged at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedhkar Street?

The Sub Registrar Office that covers Ambedhkar 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 further assistance.

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

The guideline value plays a crucial role when buying or selling property in Varadarajapuram. It serves as a reference point for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is accurately documented in accordance with the law.

Frequently asked questions

What is the current guideline value of Ambedhkar Street?

The current guideline value of Ambedhkar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Ambedhkar Street?

Ambedhkar Street is classified as Residential Special Type - II under the Padappai SRO.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees by using our stamp duty and registration fee calculator.

Which office handles property registrations for Ambedhkar Street?

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