Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Puzhal village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification and is registered with the Redhills SRO.

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 guideline value was Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, but then decreased to Rs 536 per sq.ft in 2017. The value saw a substantial rise to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 87%. The jump from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in Puzhal is Rs 1,102 per sq.ft, placing Ambedkar Street's 2024 figure slightly below this median.

• Ambedkar Road: Rs 1,100 per sq.ft (2024)
• Ambethkar 2nd Lane: Rs 1,100 per sq.ft (2024)
• Ambethkar 3rd Lane: Rs 1,100 per sq.ft (2024)
• Ambethkar First Lane: Rs 1,100 per sq.ft (2024)
• Ambedkar Nagar: Rs 1,102 per sq.ft (2024)
• Ambathur Road: Rs 1,650 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, 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 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 Puzhal

The guideline value is a critical factor in the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. Buyers and sellers should be aware of the guideline value to avoid any discrepancies 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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft property would incur a total of Rs 99,000 in fees based on the current guideline value.

Which Sub Registrar Office covers Ambedkar Street?

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

What is the median guideline value in Puzhal?

The median guideline value in Puzhal is Rs 1,102 per sq.ft, with Ambedkar Street's current value being slightly below this median.