Guideline Value for Ambedkar Street, Vinayaga Nagar

Ambedkar Street, Vinayaga Nagar guideline value

The current guideline value of Ambedkar Street, Vinayaga Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Ambedkar Street, Vinayaga Nagar has changed

The guideline value for Ambedkar Street has undergone several revisions. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, an increase from Rs 1,000 per sq.ft in the 2023 revision, marking a 10% rise. Prior to that, in 2017, the guideline value was Rs 670 per sq.ft, which shows a significant increase of 49% to the 2023 figure, and an overall increase of 64% from 2017 to 2024.

It is important to note that the register has no figures for Ambedkar Street for the years 2002, 2003, 2007, and 2012. This lack of data indicates that the street's guideline value was not established in those years.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. Ambedkar Street's guideline value of Rs 1,100 per sq.ft is below this median.

• Ambedkar Street: Rs 1,100 per sq.ft (2024)
• Amalanathan Street: Rs 1,320 per sq.ft (2024)
• Amalanathan Road: Rs 1,320 per sq.ft (2024)
• Amman Koil 1st Cross street: Rs 1,100 per sq.ft (2024)
• Amman koil Street: Rs 1,100 per sq.ft (2024)
• Anandhi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Street, Vinayaga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Street, Vinayaga Nagar?

The Sub Registrar Office that covers Ambedkar Street, Vinayaga Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

When buying or selling property in Pozhichalur, the guideline value serves as a benchmark for determining the stamp duty and registration fees. This value is crucial as it ensures that the government collects the appropriate taxes based on the property's worth.

During the registration process, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This practice helps standardize property transactions and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Ambedkar Street, Vinayaga Nagar?

The current guideline value of Ambedkar Street, Vinayaga Nagar 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 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the median guideline value in Pozhichalur?

The median guideline value in Pozhichalur is Rs 1,320 per sq.ft, with Ambedkar Street's value being below this median.

How is stamp duty calculated for properties on Ambedkar Street?

Stamp duty for properties on Ambedkar Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.

Where can I find the Sub Registrar Office for Ambedkar Street?

The Sub Registrar Office for Ambedkar Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.