Guideline Value for Ambedkar First Street

Ambedkar First Street guideline value

The current guideline value of Ambedkar First Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO and is classified as Residential Class IV Type - II.

How the guideline value of Ambedkar First Street has changed

The guideline value for Ambedkar First Street has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, this value dropped to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision raised the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for Ambedkar First Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value among these streets is Rs 2,310 per sq.ft, placing Ambedkar First Street's 2024 figure below this median.

• Ambedkar Street: Rs 1,650 per sq.ft (2024)
• Albin Nagar: Rs 2,310 per sq.ft (2024)
• Albin Garden Extension: Rs 2,310 per sq.ft (2024)
• Albin Garden: Rs 2,310 per sq.ft (2024)
• Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Alamelmangapuram: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar First Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, these fees total Rs 1,48,500. It is important to 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 First Street?

The Sub Registrar Office that covers Ambedkar First Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your specific SRO, visit find your SRO.

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

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

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This ensures transparency in transactions and helps in avoiding disputes related to property valuation during the registration process.

Frequently asked questions

What is the current guideline value of Ambedkar First Street?

The current guideline value of Ambedkar First Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the registration office for Ambedkar First Street?

The registration office for Ambedkar First Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Ambedkar First Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,15,500 at the current guideline value.

What are the other streets in Perungalathur with similar guideline values?

Other streets in Perungalathur with similar guideline values include Ambedkar Street and Alamelmangapuram, both at Rs 1,650 per sq.ft in 2024.