Guideline Value for Ambedkar 1st & 2nd Street

Ambedkar 1st & 2nd Street guideline value

The current guideline value of Ambedkar 1st & 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ambedkar 1st & 2nd Street has changed

Starting from the 2007 revision, the guideline value for Ambedkar 1st & 2nd Street was Rs 800 per sq.ft. It increased significantly to Rs 3,500 per sq.ft in 2012, marking a change of +338%. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, resulting in a -33% change. The guideline value then rose to Rs 3,500 per sq.ft in 2023, which was a +49% increase from the previous figure.

The most recent revision in 2024 has set the guideline value at Rs 3,800 per sq.ft, reflecting a +9% increase from the 2023 figure. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, which is the same as the guideline value for Ambedkar 1st & 2nd Street.

• Ambdekar Street: Rs 3,800 per sq.ft (2024)
• Ambedkar Nagar: Rs 3,800 per sq.ft (2024)
• Ambedkar Nagar 1 to 7 Street: Rs 3,800 per sq.ft (2024)
• Amman Kuttai and Streets: Rs 3,800 per sq.ft (2024)
• Akbar Nagar 1 to 4 Street- Akbar Square 1 to 4 Street: Rs 3,800 per sq.ft (2024)
• Agasthiar Nagar: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar 1st & 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total fees Rs 3,42,000. Please 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 information on calculating fees.

Which Sub Registrar Office covers Ambedkar 1st & 2nd Street?

The Sub Registrar Office that covers Ambedkar 1st & 2nd Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for additional details.

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

The guideline value is a critical factor during property transactions in Konnur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for accurate calculations of stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. This ensures that the registration process is standardized and reflects the prevailing market conditions as per the official records.

Frequently asked questions

What is the current guideline value for Ambedkar 1st & 2nd Street?

The current guideline value for Ambedkar 1st & 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 800 per sq.ft to Rs 3,800 per sq.ft in 2024, marking an overall increase of +375%.

What is the land classification for Ambedkar 1st & 2nd Street?

Ambedkar 1st & 2nd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles property registrations for this street?

The Konnur Sub Registrar Office handles property registrations for Ambedkar 1st & 2nd Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.