Guideline Value for Ambedkar 1st Street

Ambedkar 1st Street guideline value

The current guideline value of Ambedkar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ambedkar 1st Street has changed

The guideline value for Ambedkar 1st Street has seen several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, which was a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, representing a 61% increase from 2017.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street in the register.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Ambedkar 1st Street below this median.

• Ambedkar 2nd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 4th Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar 1st Street?

The Sub Registrar Office that covers Ambedkar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transaction. This ensures that both parties are aware of the financial implications involved in the buying or selling process.

Frequently asked questions

What is the current guideline value of Ambedkar 1st Street?

The current guideline value of Ambedkar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 286%.

What is the land classification for Ambedkar 1st Street?

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

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the stamp duty and registration fees for property in Ambedkar 1st Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.