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 Pennaloor village under the Sriperumpudur SRO, classified as Residential Class IV Type - I.

How the guideline value of Ambedhkar Street has changed

The guideline value for Ambedhkar Street has seen various revisions over the years. The earliest recorded figure is from 2012, where it was set at Rs 100 per sq.ft. In 2017, the value decreased to Rs 67 per sq.ft, marking a decline of 33%. However, by 2023, the value had increased to Rs 100 per sq.ft, representing a 49% increase from the 2017 figure. The 2024 revision maintains this value at Rs 100 per sq.ft, indicating no change from the previous year.

It is important to note that there are no recorded figures for Ambedhkar Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 100 per sq.ft.

Guideline values in Pennaloor

Pennaloor village has 35 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Ambedhkar Street's 2024 figure below that median.

• Bajanai Koil Street: Rs 200 per sq.ft (2024)
• Brijvaji Avenue: Rs 200 per sq.ft (2024)
• Dr. A.P.J. Abdulkalam Nagar: Rs 500 per sq.ft (2024)
• E.B.Kudi Colony: Rs 200 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 200 per sq.ft (2024)
• Gowtham Nagar: 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, making the total Rs 9,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedhkar Street?

The Sub Registrar Office covering 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pennaloor. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the official valuation set by the government. It is essential for buyers and sellers to be aware of these values to ensure compliance with legal requirements 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 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 since 2012, with a decrease to Rs 67 per sq.ft in 2017, followed by an increase back to Rs 100 per sq.ft in 2023 and 2024.

What is the land classification for Ambedhkar Street?

Ambedhkar Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Ambedhkar Street?

The Sub Registrar Office for Ambedhkar Street is 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 higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 1,00,000 would incur a stamp duty of Rs 7,000 at 7%.