Guideline Value for Ambedkar Street

Ambedkar Street guideline value

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

How the guideline value of Ambedkar Street has changed

The guideline value for Ambedkar Street has undergone several revisions since 2007. In the 2007 revision, the value was Rs 450 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 1,675 per sq.ft in the 2017 revision. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, followed by a further rise to Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Ambedkar Street. Overall, from 2007 to 2024, the guideline value has increased by 500%, showcasing the significant changes over the years.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ambedkar Street's 2024 figure above this median.

• Ambedhkar Street East: Rs 2,700 per sq.ft (2024)
• Ambal Nagar 7th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 6th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 5th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar 3rd Street: Rs 1,100 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, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Chembakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Ambedkar Street?

The current guideline value for 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 has changed significantly from Rs 450 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a 500% increase over the years.

What are the stamp duty rates for properties in Ambedkar Street?

The stamp duty for properties in Ambedkar Street is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Ambedkar Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the median guideline value for streets in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft, with Ambedkar Street's 2024 figure of Rs 2,700 per sq.ft being above this median.