Guideline Value for Ambedkar Street

Ambedkar Street guideline value

The current guideline value of Ambedkar Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV 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 450 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a significant rise of 122%. However, by 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. The value then rose again to Rs 1,000 per sq.ft in 2023, before reaching the current value of Rs 1,100 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 144%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Ambedkar Street's 2024 figure of Rs 1,100 per sq.ft is below this median.

• Ambedkar Nagar: Rs 1,100 per sq.ft (2024)
• Ambedkar 3rd Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 2nd Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 1st 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 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. You can find your SRO for more information.

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

The guideline value is crucial during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers should consider this value when negotiating sale prices, as the higher of the guideline value or the sale price will be used to calculate the applicable duties and fees.

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 450 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 144% over the years.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Ambedkar Street?

The Selaiyur Sub Registrar Office covers Ambedkar Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of Ambedkar Street?

Ambedkar Street is classified as Residential Class IV Type - I under the Selaiyur SRO.