Guideline Value for Ambedkar Nagar Main Salai

Ambedkar Nagar Main Salai guideline value

The current guideline value of Ambedkar Nagar Main Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ambedkar Nagar Main Salai has changed

The guideline value for Ambedkar Nagar Main Salai has seen several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. This was followed by a decrease to Rs 2,010 per sq.ft in 2017, and then a significant jump to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 has raised the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the most notable changes were from 2017 to 2023, where the value increased by 49%. Additionally, from 2007 to 2024, the overall increase in guideline value is 120%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Ambedkar Nagar Main Salai is below this median.

• Ambedkar Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Ambedkar Street: Rs 3,300 per sq.ft (2024)
• Ambedkar colony 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Ambedkar colony 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Nagar Main Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar Nagar Main Salai?

The Sub Registrar Office covering Ambedkar Nagar Main Salai is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Velachery. 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 property sales.

When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ambedkar Nagar Main Salai?

The current guideline value of Ambedkar Nagar Main Salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What is the land classification for Ambedkar Nagar Main Salai?

Ambedkar Nagar Main Salai is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Ambedkar Nagar Main Salai?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Ambedkar Nagar Main Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.