Guideline Value for Ambedkar Nagar

Ambedkar Nagar guideline value

The current guideline value of Ambedkar Nagar, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Ambedkar Nagar has changed

Over the years, the guideline value of Ambedkar Nagar has seen several revisions. The earliest recorded figure in the register is from 2007, where the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 700% rise. However, the value decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,160 per sq.ft in 2024, reflecting an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 764%. It is important to note that the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO, with a 2024 guideline value range from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,160 per sq.ft, which matches the current value for Ambedkar Nagar.

• Amaravathi Street: Rs 1,100 per sq.ft (2024)
• Alamaram Street: Rs 2,420 per sq.ft (2024)
• A.G.S.Staff Colony: Rs 2,420 per sq.ft (2024)
• A.G.S. Colony: Rs 2,420 per sq.ft (2024)
• Agastheesvarar Nagar: Rs 2,750 per sq.ft (2024)
• Andavar Street: Rs 2,160 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 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty, charged at 7%, would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total fees to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Nemilicherry. It is used to determine the minimum value at which property transactions must be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a price that reflects the official valuation set by the government.

Additionally, the guideline value is essential for calculating the stamp duty and registration fees associated with property transactions. Buyers and sellers must be aware of these values to ensure compliance with legal requirements 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 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 250 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, reflecting a total increase of 764% over the years.

What is the land classification for Ambedkar Nagar?

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

Where is the Sub Registrar Office for Ambedkar Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Ambedkar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 21,60,000 would incur a stamp duty of Rs 1,51,200 at a rate of 7%.