Guideline Value for Ambedkar Nagar

Ambedkar Nagar guideline value

The current guideline value of Ambedkar Nagar, located in Naduvakkarai village under the AnnaNagar SRO, is Rs 3,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Ambedkar Nagar has changed

The guideline value for Ambedkar Nagar has undergone several revisions over the years. In 2007, the value was Rs 1,300 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 131% rise. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 154%.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, indicating that the guideline value for Ambedkar Nagar is below this median.

• Ambedkar Streeet , New Colony: Rs 5,400 per sq.ft (2024)
• Ambedkat Street: Rs 3,300 per sq.ft (2024)
• AM- Block 14th Main Road: Rs 12,600 per sq.ft (2024)
• AL Block 4th Street – 30’: Rs 11,500 per sq.ft (2024)
• AL Block 3rd Street – 30’: Rs 11,500 per sq.ft (2024)
• AL Block 2nd Street – 30’: Rs 11,500 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 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 cost to Rs 2,97,000. 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 precise calculations.

Which Sub Registrar Office covers Ambedkar Nagar?

The Ambedkar Nagar area falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Naduvakkarai. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property. The value ensures that the government receives appropriate revenue from property transactions.

When selling property, the guideline value is also considered to ensure that the sale price is aligned with the registered value. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ambedkar Nagar?

The current guideline value of Ambedkar Nagar 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 changed significantly, from Rs 1,300 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 154%.

What is the land classification for Ambedkar Nagar?

Ambedkar Nagar falls under the Residential Class II Type - I land classification, which is applicable for residential purposes.

What are the stamp duty and registration fees for properties in Ambedkar Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office should I visit for property registration in Ambedkar Nagar?

The AnnaNagar Sub Registrar Office covers Ambedkar Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.