Guideline Value for Ambedkar 1st Cross Street (Kennedy Nagar)

Ambedkar 1st Cross Street (Kennedy Nagar) guideline value

The current guideline value of Ambedkar 1st Cross Street (Kennedy Nagar) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Ambedkar 1st Cross Street (Kennedy Nagar) has changed

The guideline value for Ambedkar 1st Cross Street (Kennedy Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,541 per sq.ft. The 2023 revision increased the value to Rs 2,300 per sq.ft, followed by a further increase to the current value of Rs 2,500 per sq.ft in 2024, marking a 9% rise.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which matches the guideline value of Ambedkar 1st Cross Street (Kennedy Nagar).

• Ambedkar 1st Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 2nd Cross Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 2nd Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 3rd Cross Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar Street: Rs 2,200 per sq.ft (2024)
• Ambedkar Street (Erukkancherry): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar 1st Cross Street (Kennedy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, resulting in a total of Rs 2,25,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar 1st Cross Street (Kennedy Nagar)?

The Sub Registrar Office that covers Ambedkar 1st Cross Street (Kennedy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish a fair price for the transaction. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ambedkar 1st Cross Street (Kennedy Nagar)?

The current guideline value of Ambedkar 1st Cross Street (Kennedy Nagar) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, marking a 9% increase. From 2017 to 2023, it increased by 49%, while from 2012 to 2017, it decreased by 33%.

What is the land classification for this street?

Ambedkar 1st Cross Street (Kennedy Nagar) is classified as Residential Class III Type - I. This classification is important for determining the permissible uses of land in the area.

Where can I find the registration office for this area?

The registration office for Ambedkar 1st Cross Street (Kennedy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at 7%.