Guideline Value for Ambedkar Nagar

Ambedkar Nagar guideline value

The current guideline value of Ambedkar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class II 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 2002, the guideline value was Rs 337 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a significant rise of 108%. This was followed by another substantial increase of 257%, bringing the value to Rs 2,500 per sq.ft in 2012. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the 2012 figure.

It is important to note that there are no figures available in the register for the years 2003, 2017, and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 701%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which indicates that the 2024 figure for Ambedkar Nagar is below that median.

• Ambedkar Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 6th Street: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the property registration process in Kolathur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. Accurate knowledge of the guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ambedkar Nagar?

The current guideline value of Ambedkar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 337 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 701% over this period.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with the same guideline value of Rs 2,700 per sq.ft include Ambedkar Nagar 1st Street, Ambedkar Nagar 2nd Street, Ambedkar Nagar 3rd Street, Ambedkar Nagar 4th Street, Ambedkar Nagar 5th Street, and Ambedkar Nagar 6th Street.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated in Ambedkar Nagar?

Stamp duty in Ambedkar Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total guideline value would be Rs 27,00,000.