Guideline Value for Ambedkar Nagar

Ambedkar Nagar guideline value

The current guideline value of Ambedkar Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai Sub Registrar Office (SRO). The land classification for this locality is Residential Special Type - I.

How the guideline value of Ambedkar Nagar has changed

The guideline value for Ambedkar Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 700 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. This was a decline of 14%. However, from 2017 to 2023, the value increased significantly to Rs 900 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 41%.

Guideline values in Nandambakkam

Nandambakkam village has a total of 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Ambedkar Nagar's 2024 value above this median.

• Alagesan Nagar: Rs 720 per sq.ft (2024)
• Anjugam Nagar: Rs 990 per sq.ft (2024)
• Balaji Nagar: Rs 990 per sq.ft (2024)
• Devendira Nagar: Rs 990 per sq.ft (2024)
• Devendra Nagar: Rs 990 per sq.ft (2024)
• Devendra Nagar Extension: Rs 990 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty, charged at 7%, would be Rs 69,300, while the registration fee at 2% would be Rs 19,800. Therefore, the total cost for stamp duty and registration would be Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Nagar?

The Sub Registrar Office that covers Ambedkar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Nandambakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives the appropriate stamp duty and registration fees during the transaction process.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Ambedkar Nagar?

The current guideline value of Ambedkar Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Ambedkar Nagar?

The land classification for Ambedkar Nagar is Residential Special Type - I.

Where can I find the registration office for Ambedkar Nagar?

The registration office for Ambedkar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Ambedkar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at a rate of 7%.