Guideline Value for Ambedkar Street (Gandhi Nagar)

Ambedkar Street (Gandhi Nagar) guideline value

The current guideline value of Ambedkar Street (Gandhi Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ambedkar Street (Gandhi Nagar) has changed

The guideline value of Ambedkar Street (Gandhi Nagar) has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 900 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 178%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently, it has been revised to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase from the previous year.

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 200%, showcasing a significant change over the years.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Ambedkar Street (Gandhi Nagar) below this median.

• Ambedkar Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Street (Gandhi Nagar)?

The Sub Registrar Office that covers Ambedkar Street (Gandhi Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it serves as a benchmark for determining the stamp duty and registration fees. When buying or selling property, the guideline value is referenced to ensure that the transaction is registered at the correct value, which affects the taxes payable.

Buyers and sellers must be aware that the guideline value can influence the overall cost of the transaction. It is essential to consult the latest figures to understand the financial implications of property registration in Kolathur.

Frequently asked questions

What is the current guideline value of Ambedkar Street (Gandhi Nagar)?

The current guideline value of Ambedkar Street (Gandhi Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 200% over these years.

What is the land classification for Ambedkar Street (Gandhi Nagar)?

Ambedkar Street (Gandhi Nagar) is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.