Guideline Value for Ambedkar Road

Ambedkar Road guideline value

The current guideline value of Ambedkar Road in Puzhal village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Ambedkar Road has changed

The guideline value for Ambedkar Road has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it then saw a decrease to Rs 536 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 1,000 per sq.ft, marking an 87% increase. The most recent revision in 2024 has set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is noteworthy that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values 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, placing Ambedkar Road's 2024 figure slightly below that median.

• Ambedkar Street: Rs 1,100 per sq.ft (2024)
• Ambedkar Nagar: Rs 1,102 per sq.ft (2024)
• Ambethkar 2nd Lane: Rs 1,100 per sq.ft (2024)
• Ambethkar 3rd Lane: Rs 1,100 per sq.ft (2024)
• Ambathur Road: Rs 1,650 per sq.ft (2024)
• Ambethkar First Lane: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. 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 Road?

The Sub Registrar Office that covers Ambedkar Road 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 details.

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

The guideline value plays a crucial role in property transactions in Puzhal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The value is established by the Registration Department and serves as a benchmark for property transactions.

When selling property, the guideline value helps in setting a fair price for the transaction, ensuring that both parties are aware of the official valuation of the property. This transparency is essential for a smooth registration process.

Frequently asked questions

What is the current guideline value of Ambedkar Road?

The current guideline value of Ambedkar Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 267% over the years.

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

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

Which Sub Registrar Office covers Ambedkar Road?

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

What is the land classification of Ambedkar Road?

Ambedkar Road is classified as Residential Class II Type - I, which is important for understanding its use and potential in property transactions.