Guideline Value for Ambedkar Nagar

Ambedkar Nagar guideline value

The current guideline value of Ambedkar Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Ambedkar Nagar has changed

The guideline value of Ambedkar Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 700 per sq.ft in 2012, followed by a decrease to Rs 469 per sq.ft in 2017. The value then rose significantly to Rs 1,000 per sq.ft in 2023 and is now Rs 1,102 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 451%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, which is equal to the current value of Ambedkar Nagar.

• Ambedkar Road: Rs 1,100 per sq.ft (2024)
• Ambathur Road: Rs 1,650 per sq.ft (2024)
• Ambedkar Street: Rs 1,100 per sq.ft (2024)
• Ambethkar 2nd Lane: Rs 1,100 per sq.ft (2024)
• Ambethkar 3rd Lane: Rs 1,100 per sq.ft (2024)
• Ambethkar First Lane: Rs 1,100 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 1,102 per sq.ft, the total guideline value would be Rs 11,02,000. The stamp duty at 7% would amount to Rs 77,140, and the registration fee at 2% would be Rs 22,040, bringing the total charges to Rs 99,180. 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 details.

Which Sub Registrar Office covers Ambedkar Nagar?

The Sub Registrar Office that covers Ambedkar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is crucial when buying or selling property as it determines the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to calculate the financial implications of their transactions.

When a property is registered, the guideline value serves as a benchmark for assessing the transaction value. This ensures that all parties involved have a clear understanding of the financial obligations tied to the property transfer.

Frequently asked questions

What is the current guideline value of Ambedkar Nagar?

The current guideline value of Ambedkar Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 1,102 per sq.ft in 2024, representing a total increase of 451% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 99,180.

Which Sub Registrar Office is responsible for Ambedkar Nagar?

The Redhills Sub Registrar Office is responsible for Ambedkar Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Ambedkar Nagar?

Ambedkar Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.