Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO, classified as Residential Class V Type - I.

How the guideline value of Ambedkar Street has changed

Over the years, the guideline value of Ambedkar Street has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, this figure decreased to Rs 335 per sq.ft in 2017. The value then rose significantly to Rs 500 per sq.ft in 2023, and further increased to the current Rs 550 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2007 to 2024, the overall change is an increase of 175%. The changes between the revisions are notable: from 2007 to 2012, there was a 150% increase; from 2012 to 2017, a decrease of 33%; and from 2017 to 2023, an increase of 49%. The most recent change from 2023 to 2024 is a 10% increase.

Guideline values in Ayappakkam

Ayappakkam village has a total of 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value is Rs 1,300 per sq.ft, placing Ambedkar Street's 2024 figure below this median.

• Ambattur Co-op. Nagar: Rs 1,300 per sq.ft (2024)
• Ambigai Nagar: Rs 1,300 per sq.ft (2024)
• Amirthananda Mayi street (maruthiram nagar): Rs 1,100 per sq.ft (2024)
• Ananoor Railway Station 1st Cross street (Santhosh nagar): Rs 880 per sq.ft (2024)
• Andavar 1st cross street: Rs 1,700 per sq.ft (2024)
• Andavar Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar Street?

The Sub Registrar Office covering Ambedkar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Ayappakkam. It is used to determine the stamp duty and registration fees applicable during the registration of property sales. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value helps establish a baseline for taxation purposes. It is crucial for both parties to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, marking an overall increase of 175%.

What are the other streets in Ayappakkam with their guideline values?

Other streets in Ayappakkam include Ambattur Co-op. Nagar and Ambigai Nagar at Rs 1,300 per sq.ft, Amirthananda Mayi street at Rs 1,100 per sq.ft, and several others with varying rates.

How is stamp duty calculated for properties in Ambedkar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 5,50,000 would incur a stamp duty of Rs 38,500.

Where is the Sub Registrar Office for Ambedkar Street located?

The Sub Registrar Office for Ambedkar Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.