Guideline Value for Ambedkar St ( Ward No.16 )

Ambedkar St ( Ward No.16 ) guideline value

The current guideline value of Ambedkar St ( Ward No.16 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ambedkar St ( Ward No.16 ) has changed

Over the years, the guideline value of Ambedkar St ( Ward No.16 ) has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and finally rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, comparing the figures from 2012 to 2024, there has been an increase of 8%.

Guideline values in Madhavaram

Madhavaram village features a wide range of guideline values, with 1,946 streets under the Madhavaram SRO carrying a 2024 figure that ranges from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Ambedkar St ( Ward No.16 ) is below this median.

• Ambedkar St ( Ward No.23 ): Rs 1,300 per sq.ft (2024)
• Ambedkhar 1st St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 2nd St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 3rd St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 4th St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 5th St 6ht Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar St ( Ward No.16 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar St ( Ward No.16 )?

The Sub Registrar Office that covers Ambedkar St ( Ward No.16 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Madhavaram. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the registration process is consistent and transparent, adhering to the established values set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ambedkar St ( Ward No.16 )?

The current guideline value of Ambedkar St ( Ward No.16 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the stamp duty for property in Ambedkar St ( Ward No.16 )?

The stamp duty for a property in Ambedkar St ( Ward No.16 ) is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Ambedkar St ( Ward No.16 )?

Ambedkar St ( Ward No.16 ) is classified as Residential Class III Type - I according to the guideline value register.