Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Kathirvedu village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Ambedkar Street has changed

The guideline value of Ambedkar Street has seen significant changes over the years. In the 2003 revision, the value was Rs 90 per sq.ft, which increased to Rs 200 per sq.ft in 2007. Following that, the value surged to Rs 1,000 per sq.ft in 2012, but then decreased to Rs 670 per sq.ft in 2017. The guideline value rose again to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it saw a further increase of 10%. The overall change from 2003 to 2024 reflects a remarkable increase of 1,122% in the guideline value.

Guideline values in Kathirvedu

Kathirvedu features a total of 78 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 1,500 per sq.ft, placing Ambedkar Street's 2024 figure below this median.

• Ambal Nagar: Rs 1,100 per sq.ft (2024)
• Anna Street: Rs 1,100 per sq.ft (2024)
• Asian Street: Rs 1,100 per sq.ft (2024)
• Babuji Nagar: Rs 1,500 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,500 per sq.ft (2024)
• Bala Murugan Nagar: Rs 1,500 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Street?

The Ambattur Sub Registrar Office covers Ambedkar Street. The office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kathirvedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in accordance with government regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street 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 significantly from Rs 90 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1,122% over this period.

What is the land classification for Ambedkar Street?

Ambedkar Street is classified as Residential Class IV Type - I, indicating its designation for residential use.

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

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

How is the 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 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 77,000.