Guideline Value for Ambedkar 1st Street

Ambedkar 1st Street guideline value

The current guideline value of Ambedkar 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV 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. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and further rose to Rs 1,100 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

In summary, the overall change from the 2012 revision to the 2024 revision is an increase of 10%. The revisions for the years 2002, 2003, and 2007 have no figures listed for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which means that the 2024 figure for Ambedkar 1st Street is below this median.

• Ambedkar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 2nd Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 3rd Street: Rs 1,100 per sq.ft (2024)
• Ambedkar Nagar: Rs 1,100 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar 1st Street?

The Sub Registrar Office that covers Ambedkar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, it is essential to be aware of the guideline value, as it can influence negotiations and the final sale price. Buyers and sellers should ensure that they are informed about the current guideline value to make educated decisions during the transaction process.

Frequently asked questions

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

The current guideline value of Ambedkar 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Ambedkar 1st Street?

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

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Ambedkar 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 77,000.