Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village and falls under the Padappai SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has undergone several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which saw a significant increase to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 has set it at Rs 1,650 per sq.ft. Notably, the register does not contain figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 560%. The changes between the revisions include a 500% rise from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Ambedkar Street's 2024 guideline value is below this median.

• Ambedkar First Street: Rs 1,650 per sq.ft (2024)
• Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Albin Nagar: Rs 2,310 per sq.ft (2024)
• Albin Garden Extension: Rs 2,310 per sq.ft (2024)
• Albin Garden: Rs 2,310 per sq.ft (2024)
• Anand Avenue: Rs 2,970 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating these fees.

When registering a property, it is essential to refer to the guideline value to ensure compliance with legal requirements. This value is periodically revised, reflecting changes in the real estate landscape, and it is important for buyers and sellers to stay updated on these changes.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 560% over the years.

What is the land classification for Ambedkar Street?

Ambedkar Street is classified as Residential Class IV Type - II, which indicates its designation for residential use.

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

The Sub Registrar Office for Ambedkar Street is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Ambedkar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.