Guideline Value for Ambedkar 2nd Street

Ambedkar 2nd Street guideline value

The current guideline value of Ambedkar 2nd 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, classified as Residential Class II Type - I.

How the guideline value of Ambedkar 2nd Street has changed

The guideline value for Ambedkar 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2007, setting the value at Rs 700 per sq.ft. This figure saw a significant increase in the 2012 revision, which raised it to Rs 2,500 per sq.ft, marking a change of 257%. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, reflecting an 8% increase from the 2012 figure. Notably, there are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 286%. This substantial rise illustrates the changing landscape of property values in the area over the years.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Ambedkar 2nd Street's 2024 guideline value is below this median.

• Ambedkar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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 to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar 2nd Street?

The Sub Registrar Office that covers Ambedkar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ambedkar 2nd Street?

The current guideline value of Ambedkar 2nd 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 2,500 per sq.ft in 2012, and then to Rs 2,700 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street.

What is the land classification of Ambedkar 2nd Street?

Ambedkar 2nd Street is classified as Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property in Ambedkar 2nd Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 27,00,000. The stamp duty is Rs 1,89,000, and the registration fee is Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for Ambedkar 2nd Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registrations for Ambedkar 2nd Street.