Guideline Value for Ambedkar street

Ambedkar street guideline value

The current guideline value of Ambedkar street is Rs 102 per sq.ft, effective from 1 July 2024. This street is located in Thandarai village, under the Salavakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ambedkar street has changed

The guideline value for Ambedkar street has undergone several revisions over the years. In 2012, the value was Rs 50 per sq.ft, which then decreased to Rs 33 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 203%, bringing the value to Rs 100 per sq.ft. The latest revision in 2024 saw a further increase to Rs 102 per sq.ft, marking a 2% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 104%.

Guideline values in Thandarai

In Thandarai village, five streets under the Salavakkam SRO have a guideline value for 2024 ranging from Rs 100 to Rs 102 per sq.ft. Ambedkar street's current value of Rs 102 per sq.ft is above the median value of Rs 101 per sq.ft for these streets.

• First street: Rs 101 per sq.ft (2024)
• Pillaiyarkovil street: Rs 100 per sq.ft (2024)
• Second street: Rs 101 per sq.ft (2024)
• Turgai amman street: Rs 102 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 102 per sq.ft, the total guideline value would be Rs 1,02,000. The stamp duty at 7% would amount to Rs 7,140, and the registration fee at 2% would be Rs 2,040, bringing the total fees together to Rs 9,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, 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 Thandarai

The guideline value is a crucial factor in the registration process when buying or selling property in Thandarai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When a buyer or seller engages in a transaction, the guideline value helps to standardize the costs involved in the registration process. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ambedkar street?

The current guideline value of Ambedkar street is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2012 to Rs 33 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and finally to Rs 102 per sq.ft in 2024.

What is the land classification of Ambedkar street?

Ambedkar street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 9,180.

Which office handles registrations for Ambedkar street?

The Salavakkam Sub Registrar Office handles registrations for Ambedkar street, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.