Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 181 per sq.ft. This figure increased to Rs 199 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 600 per sq.ft in 2007, which was an increase of 202%. By 2012, the value was Rs 3,500 per sq.ft, reflecting a substantial increase of 483% from the previous revision. However, it then decreased to Rs 2,345 per sq.ft in 2017, which was a decline of 33%. The guideline value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,800 per sq.ft in 2024, representing a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1999%. There are no figures available for revisions in the years not listed in the register.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Ambedkar Street's 2024 figure below this median.

• Ambattur Industrial Estate Road (Wavin To Mugappair Rod Junction): Rs 6,600 per sq.ft (2024)
• Ambattur Industrial Estate 2nd Main Road: Rs 6,600 per sq.ft (2024)
• Ambattur Industrial Estate 1st Main Road: Rs 6,600 per sq.ft (2024)
• Ambathur Industrial Estate: Rs 6,600 per sq.ft (2024)
• Akshya Colony: Rs 7,100 per sq.ft (2024)
• A.K.R. New Nagar: Rs 3,800 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 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for stamp duty and registration would be Rs 3,42,000. 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?

The Sub Registrar Office that covers Ambedkar Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, in the Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Mugappair, as it determines the amount of stamp duty and registration fees that need to be paid. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial implications of the transaction. It is essential for both parties to understand the guideline value to avoid any surprises 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 3,800 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 181 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 1999% over the years.

What is the land classification of Ambedkar Street?

Ambedkar Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 38,00,000, leading to a stamp duty of Rs 2,66,000 and a registration fee of Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Ambedkar Street?

The Konnur Sub Registrar Office handles registrations for Ambedkar Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.