Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Grandlyon village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Special Type - I.

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has undergone several revisions over the years. The earliest available figure is from 2007, when it was Rs 600 per sq.ft. This increased to Rs 800 per sq.ft in 2012, but then decreased to Rs 536 per sq.ft in 2017. Following this, the value rose significantly to Rs 800 per sq.ft in 2023, and then further increased to the current rate of Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

In summary, from 2017 to 2023, the guideline value increased by 49%, while the overall change from 2007 to 2024 is an increase of 47%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Ambedkar Street's 2024 figure above this median.

• Annai Nagar: Rs 660 per sq.ft (2024)
• Anna Street: Rs 880 per sq.ft (2024)
• Bajanai Koil Street: Rs 660 per sq.ft (2024)
• Bharathiar Street: Rs 660 per sq.ft (2024)
• Bharathi Avenue: Rs 440 per sq.ft (2024)
• Bharathi Nagar: Rs 660 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Street?

The Sub Registrar Office covering Ambedkar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Grandlyon. It serves as the basis for calculating stamp duty and registration fees, which are necessary when registering a property sale. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is used to determine the official value for registration purposes. This ensures that the government receives the appropriate taxes based on the assessed value of the property, rather than the negotiated sale price.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, with notable revisions in 2012, 2017, and 2023.

What is the land classification for Ambedkar Street?

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

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles property registrations for Ambedkar Street?

The Redhills Sub Registrar Office handles property registrations for Ambedkar Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.