Guideline Value for Ambedkar Nagar

Ambedkar Nagar guideline value

The current guideline value of Ambedkar Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Ikkadu village under the Tiruvallur Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Ambedkar Nagar has changed

The guideline value for Ambedkar Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 50 per sq.ft. It increased significantly to Rs 500 per sq.ft in the 2012 revision, followed by a decrease to Rs 335 per sq.ft in 2017. The value remained at Rs 500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the overall change from 2007 to 2024 reflects a substantial increase of 900%. The fluctuations in values highlight the varying trends in the area over the years.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft, with a median value of Rs 400 per sq.ft. Ambedkar Nagar's 2024 figure of Rs 500 per sq.ft is above this median.

• Amala Nagar: Rs 400 per sq.ft (2024)
• Ambetkar street: Rs 500 per sq.ft (2024)
• Anna Nagar: Rs 500 per sq.ft (2024)
• ArunaChalam Street: Rs 300 per sq.ft (2024)
• Balaji Nagar: Rs 500 per sq.ft (2024)
• Elumalai Garden: Rs 626 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total cost for these charges to Rs 45,000. Note that duty is charged on the higher of the guideline value and 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 Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ikkadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable charges, ensuring that both parties are aware of the financial implications involved in the registration process.

Frequently asked questions

What is the current guideline value of Ambedkar Nagar?

The current guideline value of Ambedkar Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 50 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, and remaining at Rs 500 per sq.ft in 2023 and 2024.

What is the land classification for Ambedkar Nagar?

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

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

The Sub Registrar Office for Ambedkar Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot valued at Rs 5,00,000 would incur a total of Rs 45,000 in fees.