Guideline Value for Ambedkar Streeet , New Colony

Ambedkar Streeet , New Colony guideline value

The current guideline value of Ambedkar Streeet, New Colony is Rs 5,400 per sq.ft, effective from 1 July 2024. This street is located in Naduvakkarai village, under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of Ambedkar Streeet , New Colony has changed

In the 2012 revision, the guideline value was Rs 5,000 per sq.ft. This figure then decreased to Rs 3,350 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value increased significantly to Rs 5,000 per sq.ft in the 2023 revision, and further to Rs 5,400 per sq.ft in the 2024 revision, an increase of 8% from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 8%.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Naduvakkarai

Naduvakkarai has a total of 148 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value for these streets is Rs 11,500 per sq.ft, placing Ambedkar Streeet's 2024 figure below the median.

• Ambedkat Street: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar: Rs 3,300 per sq.ft (2024)
• AM- Block 14th Main Road: Rs 12,600 per sq.ft (2024)
• AL Block 4th Street – 30’: Rs 11,500 per sq.ft (2024)
• AL Block 3rd Street – 30’: Rs 11,500 per sq.ft (2024)
• AL Block 2nd Street – 30’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Streeet , New Colony

For a 1,000 sq.ft plot at the current rate of Rs 5,400 per sq.ft, the guideline value would be Rs 54,00,000. The stamp duty at 7% would amount to Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, totaling Rs 4,86,000. Please note that the 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 Streeet , New Colony?

The Sub Registrar Office that covers Ambedkar Streeet, New Colony is the AnnaNagar 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 Naduvakkarai

The guideline value is a crucial factor in property transactions in Naduvakkarai. It serves as the minimum value for which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in determining the stamp duty and registration fees applicable. It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ambedkar Streeet, New Colony?

The current guideline value of Ambedkar Streeet, New Colony is Rs 5,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,400 per sq.ft in 2024.

What is the registration office for Ambedkar Streeet, New Colony?

The registration office for Ambedkar Streeet, New Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Naduvakkarai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 54,00,000, the stamp duty would be calculated on this amount.

What are the guideline values for other streets in Naduvakkarai?

Other streets in Naduvakkarai have varying guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. For instance, Ambedkat Street and Ambedkar Nagar both have a guideline value of Rs 3,300 per sq.ft in 2024.