Guideline Value for Ambedkar 2nd Street

Ambedkar 2nd Street guideline value

The current guideline value of Ambedkar 2nd 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 2nd Street has changed

Over the years, the guideline value for Ambedkar 2nd Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for this street in the revisions from 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Ambedkar 2nd Street is below this median.

• Ambedkar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 1st Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 3rd Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 1st Cross 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, 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 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 plays a crucial role in property transactions in Selaiyur. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees. Buyers and sellers must consider this value when negotiating sale prices to comply with legal requirements.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the registration process remains transparent and fair, reflecting the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of Ambedkar 2nd 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 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 of Ambedkar 2nd Street?

Ambedkar 2nd Street is classified as Residential Class IV Type - I.

Where can I find the Selaiyur Sub Registrar Office?

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 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.