Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street in Kodungaiyur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Ambedkar Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This represents an increase of 8% to the current value of Rs 2,700 per sq.ft in the 2024 revision. The register has no figure for Ambedkar Street for the years 2002, 2003, 2007, 2017, and 2023.

From 2012 to 2024, the guideline value increased from Rs 2,500 per sq.ft to Rs 2,700 per sq.ft. This change reflects the adjustments made in the guideline values over the years.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Ambedkar Street.

• Ambedkar Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Ambedkar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Ambedkar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 3rd Street: Rs 2,700 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, these fees amount to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ambedkar Street?

The Sub Registrar Office covering 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 Kodungaiyur

The guideline value is a critical factor in the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Ambedkar Street?

The current guideline value of Ambedkar Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification of Ambedkar Street?

Ambedkar Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What is the registration office for Ambedkar Street?

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

How is stamp duty calculated for properties on Ambedkar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,89,000 at 7%.