Guideline Value for Ambedhkar Street

Ambedhkar Street guideline value

The current guideline value of Ambedhkar Street is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Nemili 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 seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 150 per sq.ft. In 2017, the value decreased to Rs 100 per sq.ft, marking a 33% decline. However, from 2017 to 2023, the value increased by 50% to reach Rs 150 per sq.ft. The 2024 revision has maintained this value at Rs 150 per sq.ft, showing no change from the previous year.

There are no figures available for Ambedhkar Street in the revisions from 2002, 2003, and 2007. Overall, comparing the 2012 revision to the 2024 revision, there has been no net change in the guideline value.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which means that the guideline value for Ambedhkar Street is below this median.

• Alamelu puram: Rs 250 per sq.ft (2024)
• Adhi Sankara Nagar: Rs 300 per sq.ft (2024)
• Adhiparasakthi Nagar: Rs 300 per sq.ft (2024)
• Asina nagar: Rs 210 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 210 per sq.ft (2024)
• Bajanai Koil Street: Rs 250 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 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, leading to a total of Rs 13,500. 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 detailed calculations.

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. You can find your SRO for further assistance.

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

When buying or selling property in Nemili, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value, which is set by the Registration Department, ensuring that the transactions are conducted at a standardized rate.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of property transactions. This value serves as a reference point for both parties during the registration process.

Frequently asked questions

What is the current guideline value of Ambedhkar Street?

The current guideline value of Ambedhkar Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ambedhkar Street has remained at Rs 150 per sq.ft from 2012 to 2024, with a decrease to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023.

What is the median guideline value in Nemili?

The median guideline value in Nemili is Rs 250 per sq.ft, with Ambedhkar Street's value being below this median.

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

For a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500, and the registration fee would be Rs 3,000, totaling Rs 13,500.

Which office handles registrations for Ambedhkar Street?

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