Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Panchetty village, under the Redhills SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, this value dropped to Rs 268 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 brought the value back to Rs 400 per sq.ft, remaining unchanged in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has doubled, reaching Rs 400 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Panchetty

Panchetty village has a total of 46 streets under the Redhills SRO, with guideline values ranging from Rs 300 to Rs 1,600 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Ambedkar Street's 2024 figure below that median.

• Anandavalli Nagar: Rs 1,000 per sq.ft (2024)
• Church Koil 1st Street: Rs 1,000 per sq.ft (2024)
• Church Koil 2nd Street: Rs 1,000 per sq.ft (2024)
• Church Koil 3rd Street: Rs 1,000 per sq.ft (2024)
• Church Koil Street: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the 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 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 Panchetty

The guideline value is a crucial factor during the registration of property transactions in Panchetty. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures transparency and fairness in real estate transactions, as all parties are aware of the official valuation set by the government.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and returned to Rs 400 per sq.ft in 2023 and 2024.

What is the land classification of Ambedkar Street?

Ambedkar Street is classified as Residential Class II Type - I.

What are the other streets in Panchetty with their guideline values?

Other streets in Panchetty include Anandavalli Nagar, Church Koil 1st Street, Church Koil 2nd Street, Church Koil 3rd Street, Church Koil Street, and Ganesh Nagar, all with a guideline value of Rs 1,000 per sq.ft in 2024.

Where is the Sub Registrar Office located for Ambedkar Street?

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