Guideline Value for Ambedkar Main Road

Ambedkar Main Road guideline value

The current guideline value of Ambedkar Main Road is Rs 1,700 per sq.ft, effective from 1 July 2024. This road is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ambedkar Main Road has changed

Over the years, the guideline value of Ambedkar Main Road has seen significant changes. The earliest recorded value in the register is from 2002, at Rs 147 per sq.ft. This increased to Rs 160 per sq.ft in 2003, followed by a rise to Rs 250 per sq.ft in 2007. The value then surged to Rs 1,500 per sq.ft in 2012, before decreasing to Rs 1,005 per sq.ft in 2017. The most recent figures show an increase to Rs 1,500 per sq.ft in 2023, culminating in the current value of Rs 1,700 per sq.ft in 2024. The changes between these revisions are notable, with a 500% increase from 2007 to 2012 and a 49% increase from 2017 to 2023.

The guideline value has increased overall by 1,056% from 2002 to 2024. There are no figures available for revisions in the register for the years not mentioned above.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ambedkar Main Road's 2024 figure below that median.

• Anbalagan Street: Rs 1,700 per sq.ft (2024)
• Advani Nagar: Rs 1,000 per sq.ft (2024)
• Animal Park: Rs 1,700 per sq.ft (2024)
• Annai Murugammal Avenue: Rs 3,300 per sq.ft (2024)
• Annai Murugammal Nagar: Rs 3,300 per sq.ft (2024)
• Anna Nagar Thoripakkam Salai: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. The total cost for these fees would be Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Main Road?

The Sub Registrar Office that covers Ambedkar Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of property transactions. It is advisable to consult the latest guideline values to ensure compliance and accurate fee calculations during the registration process.

Frequently asked questions

What is the current guideline value of Ambedkar Main Road?

The current guideline value of Ambedkar Main Road is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 147 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,056% over this period.

What are the stamp duty and registration fees for property in Ambedkar Main Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000. The stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers Ambedkar Main Road?

The Neelankarai Sub Registrar Office covers Ambedkar Main Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Ambedkar Main Road?

Ambedkar Main Road is classified as Residential Class III Type - I, indicating its designation for residential development.