Guideline Value for Ambedkar Nagar( All Streets)

Ambedkar Nagar( All Streets) guideline value

The current guideline value for Ambedkar Nagar( All Streets) is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class II Type - II.

How the guideline value of Ambedkar Nagar( All Streets) has changed

The guideline value for Ambedkar Nagar( All Streets) has undergone several revisions over the years. In 2002, the value was Rs 197 per sq.ft, which increased to Rs 223 per sq.ft in 2003, marking a 13% rise. The subsequent revision in 2007 saw a significant jump to Rs 360 per sq.ft, an increase of 61%. By 2017, the value had risen dramatically to Rs 1,206 per sq.ft, reflecting a 235% increase from the previous revision. However, there is no figure available for the year 2012 for this street.

In 2023, the guideline value was Rs 1,800 per sq.ft, and the latest revision in 2024 has set it at Rs 1,980 per sq.ft, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 905%, illustrating substantial growth over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Ambedkar Nagar( All Streets) below that median.

• Ambedhkar Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Ambedhkar Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Ambedhkar Street, Pammal: Rs 1,980 per sq.ft (2024)
• Ambedkar Street (Ponni Nagar): Rs 1,980 per sq.ft (2024)
• Ambedkar Street (Thiru Nagar): Rs 1,980 per sq.ft (2024)
• Alandur Abraham Street (Muvendar Nagar): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Nagar( All Streets)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. 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 information on calculating these fees.

Which Sub Registrar Office covers Ambedkar Nagar( All Streets)?

The Sub Registrar Office that covers Ambedkar Nagar( All Streets) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Ambedkar Nagar( All Streets)?

The current guideline value for Ambedkar Nagar( All Streets) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 197 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 905% over the years.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal is Rs 2,090 per sq.ft, with Ambedkar Nagar( All Streets) being below this median.

What are the stamp duty and registration fees for property in Ambedkar Nagar( All Streets)?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,80,000, resulting in a stamp duty of Rs 1,38,600 and a registration fee of Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Ambedkar Nagar( All Streets)?

The Pammal Sub Registrar Office handles registrations for Ambedkar Nagar( All Streets), located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.