Guideline Value for Ambedkar Nagar 1st Street

Ambedkar Nagar 1st Street guideline value

The current guideline value of Ambedkar Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ambedkar Nagar 1st Street has changed

The guideline value for Ambedkar Nagar 1st Street has undergone several revisions over the years. The earliest recorded value was Rs 700 per sq.ft in 2007. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 257%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the 2012 figure.

It is important to note that there are no recorded figures for the years 2003, 2002, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 286%.

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 Nagar 1st Street's 2024 figure is below this median.

• Ambedkar Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar Nagar 1st Street?

The Sub Registrar Office that covers Ambedkar Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kolathur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is advisable to consult the guideline value to ensure compliance with legal requirements and to understand the financial implications involved in the registration process.

Frequently asked questions

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

The current guideline value of Ambedkar Nagar 1st 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 seen significant changes, increasing 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.

What is the land classification for Ambedkar Nagar 1st Street?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Ambedkar Nagar 1st Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Ambedkar Nagar 1st Street.