Guideline Value for Ambedkar Nagar 5th Street

Ambedkar Nagar 5th Street guideline value

The current guideline value of Ambedkar Nagar 5th 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 Nagar 5th Street has changed

Over the years, the guideline value of Ambedkar Nagar 5th Street has seen several revisions. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,700 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, followed by an 8% increase from 2023 to 2024. The value saw a drastic rise of 257% from 2007 to 2012, but then a decrease of 33% from 2012 to 2017. 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 guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Ambedkar Nagar 5th Street's 2024 figure below this median.

• Ambedkar Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Nagar 5th 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, totaling 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar Nagar 5th Street?

The Sub Registrar Office that covers Ambedkar Nagar 5th 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

When buying or selling property in Kolathur, the guideline value plays a crucial role in determining the registration fees and stamp duties. Buyers must pay stamp duty based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ambedkar Nagar 5th Street?

The current guideline value of Ambedkar Nagar 5th 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 2,700 per sq.ft in 2024, marking an overall increase of 286% over the years.

What is the land classification for Ambedkar Nagar 5th Street?

Ambedkar Nagar 5th Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ambedkar Nagar 5th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

For a property valued at the current guideline of Rs 2,700 per sq.ft, the stamp duty would be 7% of the guideline value, and the registration fee would be 2%. Together, these fees can significantly impact the total cost of a property transaction.