Guideline Value for Ambedhkar Street

Ambedhkar Street guideline value

The current guideline value of Ambedhkar Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Eraiyur village, under the Sriperumpudur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ambedhkar Street has changed

The guideline value for Ambedhkar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 100 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 100 per sq.ft. The 2024 revision again confirmed this value at Rs 100 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Ambedhkar Street. Therefore, the revisions with known figures are limited to 2012, 2017, 2023, and 2024.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with a median value of Rs 200 per sq.ft. Ambedhkar Street's 2024 figure is below this median, indicating a lower valuation compared to many other streets in the village.

• Angel Town: Rs 100 per sq.ft (2024)
• Angel Town Extn: Rs 100 per sq.ft (2024)
• Devi Karumari Nagar: Rs 100 per sq.ft (2024)
• Dream Home: Rs 350 per sq.ft (2024)
• Ezhil Nagar: Rs 250 per sq.ft (2024)
• Ezhil Nagar Extn: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedhkar Street

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedhkar Street?

The Sub Registrar Office that covers Ambedhkar Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during property registration in Eraiyur. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property. The guideline value ensures that the government collects appropriate taxes based on the value of the property being transacted.

When a buyer purchases a property, the registration process will consider the guideline value to calculate the applicable fees. This value is essential for both buyers and sellers to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Ambedhkar Street?

The current guideline value of Ambedhkar Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft from 2012 to 2024, with a decrease to Rs 67 per sq.ft in 2017. It then increased back to Rs 100 per sq.ft in 2023.

What is the land classification for Ambedhkar Street?

Ambedhkar Street is classified as Residential Class IV Type - I.

Where can I find the registration office for Ambedhkar Street?

The registration office for Ambedhkar Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Ambedhkar Street?

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