Guideline Value for Ambedkar Salai

Ambedkar Salai guideline value

The current guideline value of Ambedkar Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Mixed Type - I land.

How the guideline value of Ambedkar Salai has changed

The guideline value for Ambedkar Salai has seen several revisions over the years. In 2012, the value was set at Rs 8,000 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 5,360 per sq.ft, marking a decrease of 33%. The next revision in 2023 brought the value back up to Rs 8,000 per sq.ft, and then it increased again to Rs 8,800 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, making the guideline value of Ambedkar Salai above this median.

• Ambal Nagar: Rs 4,100 per sq.ft (2024)
• Amman Koil Street: Rs 5,500 per sq.ft (2024)
• Amman Koil Street (Saidapettai Salai): Rs 5,500 per sq.ft (2024)
• Alayamaistry Street: Rs 3,300 per sq.ft (2024)
• Alagiri Street: Rs 3,300 per sq.ft (2024)
• Alagirisamy Salai: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total cost for these fees to Rs 7,92,000. Please note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Ambedkar Salai?

The Sub Registrar Office covering Ambedkar Salai is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kodambakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when transferring property ownership. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the transaction reflects a fair valuation, as the authorities use the guideline value to assess the applicable fees and taxes.

Frequently asked questions

What is the current guideline value of Ambedkar Salai?

The current guideline value of Ambedkar Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, then back to Rs 8,000 per sq.ft in 2023, and finally to Rs 8,800 per sq.ft in 2024.

What is the land classification for Ambedkar Salai?

Ambedkar Salai is classified as Mixed Type - I land, which indicates its diverse usage potential.

What are the stamp duty rates for properties in Ambedkar Salai?

The stamp duty for properties in Ambedkar Salai is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which office handles registrations for properties in Ambedkar Salai?

The Ashok Nagar Sub Registrar Office handles registrations for properties in Ambedkar Salai, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.