Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Soorapattu village, under the Ambattur SRO, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 670 per sq.ft. The value remained the same in 2012 and increased to Rs 1,000 per sq.ft in 2023, marking a 49% increase. The most recent 2024 revision has further increased the guideline value to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Ambedkar Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. Ambedkar Street's 2024 value is below this median.

• Ambattur (Puzhul) Redhills Road: Rs 2,400 per sq.ft (2024)
• Anantha Lakshmi Nagar: Rs 1,400 per sq.ft (2024)
• Annai Avenue: Rs 1,400 per sq.ft (2024)
• Annai Indira Nagar: Rs 1,100 per sq.ft (2024)
• Annai Indira Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Abirami Nagar: Rs 1,300 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 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 fees 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Street?

The Sub Registrar Office that covers 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 further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Soorapattu. When buying or selling property, the guideline value serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of registration. This ensures that all parties involved are informed of the financial obligations associated with the transfer of property ownership.

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 of Ambedkar Street has changed from Rs 1,000 per sq.ft in 2012 to Rs 1,100 per sq.ft in 2024, with various revisions in between, including a significant increase from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023.

What is the land classification for Ambedkar Street?

Ambedkar Street falls under the Residential Class III Type - I land classification, indicating its designation for residential use.

What are the stamp duty and registration fees for property in Ambedkar Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 99,000.

Which Sub Registrar Office covers Ambedkar Street?

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