Guideline Value for Ambedkar Nagar

Ambedkar Nagar guideline value

The current guideline value of Ambedkar Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village, under the Ambattur SRO. The land classification for this street is Residential Class III Type - II.

How the guideline value of Ambedkar Nagar has changed

The guideline value for Ambedkar Nagar has undergone several revisions over the years. In 2002, the value was Rs 139 per sq.ft, which increased to Rs 160 per sq.ft in 2003, marking a change of 15%. The value then saw a rise to Rs 200 per sq.ft in 2007, a 25% increase from the previous revision. Following that, in 2012, the guideline value jumped significantly to Rs 1,400 per sq.ft, reflecting a remarkable 600% increase from 2007. The most recent revision in 2024 set the value at Rs 1,500 per sq.ft, which is a 7% increase from 2012.

It is important to note that there are no figures available for the years 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 979%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Ambedkar Nagar's 2024 figure below that median.

• Ambedkar Road 2nd Street: Rs 1,500 per sq.ft (2024)
• Ambattu Oragadam Co-operative Building Society Colony (S.No.880/1, 2, 3): Rs 1,900 per sq.ft (2024)
• Ambattu Oragadam Co-operative Building Society Colony (Balaji Nagar): Rs 3,801 per sq.ft (2024)
• Ambedkar Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Amman Avenue: Rs 1,500 per sq.ft (2024)
• Amman Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000. Together, these fees would total Rs 1,35,000. It is important to note that 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.

Which Sub Registrar Office covers Ambedkar Nagar?

The Sub Registrar Office that covers Ambedkar Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price according to the government’s valuation.

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

Frequently asked questions

What is the current guideline value of Ambedkar Nagar?

The current guideline value of Ambedkar Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From 2002 to 2024, the guideline value has increased by 979%. The most significant change occurred between 2007 and 2012, where the value rose by 600%.

What is the land classification for Ambedkar Nagar?

The land classification for Ambedkar Nagar is Residential Class III Type - II, indicating its suitability for residential development.

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

The Ambattur Sub Registrar Office covers Ambedkar Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,35,000.