Guideline Value for Ambedkar Nagar

Ambedkar Nagar guideline value

The current guideline value of Ambedkar Nagar, located in Konnur village under the Konnur SRO, is Rs 3,800 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 seen several revisions over the years. Starting from Rs 395 per sq.ft in 2002, it increased to Rs 428 per sq.ft in 2003, marking an 8% rise. The value then jumped significantly to Rs 800 per sq.ft in 2007, reflecting an increase of 87%. Following this, the 2012 revision set the value at Rs 3,500 per sq.ft, a decrease of 338% from the previous revision. In 2017, the value rose again to Rs 2,345 per sq.ft, which was a 49% increase from 2012. The 2023 revision saw the value increase to Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 862%. The register has no figures for the years that do not have a specific value listed for this street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, which is the same as the current guideline value for Ambedkar Nagar.

• Ambedkar Nagar 1 to 7 Street: Rs 3,800 per sq.ft (2024)
• Ambedkar 1st & 2nd Street: Rs 3,800 per sq.ft (2024)
• Ambdekar Street: Rs 3,800 per sq.ft (2024)
• Amman Kuttai and Streets: Rs 3,800 per sq.ft (2024)
• Akbar Nagar 1 to 4 Street- Akbar Square 1 to 4 Street: Rs 3,800 per sq.ft (2024)
• Agasthiar Nagar: Rs 3,800 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 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty, charged at 7%, would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar Nagar?

The Sub Registrar Office that covers Ambedkar Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Konnur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. It ensures that the fees are calculated based on a standardized value, which helps maintain transparency in property dealings.

At the time of registration, the guideline value must be considered, as it can affect the overall cost of purchasing property. Buyers and sellers should be aware of the current guideline value to ensure they are prepared for the associated costs during the registration process.

Frequently asked questions

What is the current guideline value of Ambedkar Nagar?

The current guideline value of Ambedkar Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 395 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 862% over the years.

What is the land classification of Ambedkar Nagar?

Ambedkar Nagar falls under the Residential Class II Type - I land classification, which is relevant for property transactions in the area.

What are the stamp duty rates for property in Ambedkar Nagar?

The stamp duty for property in Ambedkar Nagar is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

The Sub Registrar Office for Ambedkar Nagar is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.