Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Erukancherry village is Rs 2,200 per sq.ft, effective from the 2024 revision. This street falls under the Madhavaram SRO and is classified as Residential Class IV 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 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, in the 2023 revision, the value increased to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 shows a 10% increase, indicating fluctuations in the guideline value over the years. The register has no figures for this street in 2002, 2003, and 2007.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value among these streets is Rs 2,500 per sq.ft, placing Ambedkar Street's 2024 figure below this median.

• Ambedkar Street (Erukkancherry): Rs 2,200 per sq.ft (2024)
• Ambedkar 3rd Cross Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 2nd Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 2nd Cross Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 1st Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 1st Cross Street (Kennedy Nagar): Rs 2,500 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar Street?

The Sub Registrar Office that covers Ambedkar Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Erukancherry. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is regularly revised to reflect market conditions.

When selling property, the guideline value helps establish a baseline for the sale price. Buyers and sellers can refer to the guideline value to ensure that the transaction is in line with government regulations, which can aid in the smooth processing of registration at the Sub Registrar Office.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Ambedkar Street?

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

What are the stamp duty rates for property in Ambedkar Street?

The stamp duty rate for property in Ambedkar Street is 7% of the guideline value or the sale price, whichever is higher. Additionally, the registration fee is 2% of the guideline value.

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

The Sub Registrar Office for Ambedkar Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.