Guideline Value for Ambedkar street

Ambedkar street guideline value

The current guideline value of Ambedkar street in Thandarai-1 village is Rs 102 per sq.ft, effective from 1 July 2024. This street falls 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 seen significant changes over the years. In the 2017 revision, the value was Rs 33 per sq.ft, which increased to Rs 100 per sq.ft in 2023, marking a substantial increase of 203%. The latest revision in 2024 set the value at Rs 102 per sq.ft, reflecting a 2% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 209%.

Guideline values in Thandarai-1

In Thandarai-1 village, there are five streets under the Salavakkam SRO that carry a 2024 guideline value. The values range from Rs 100 to Rs 102 per sq.ft, with a median of Rs 101 per sq.ft. Ambedkar street's 2024 value is above this median.

• 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 amounts to Rs 1,02,000. The stamp duty at 7% would be Rs 7,140, and the registration fee at 2% would be Rs 2,040, making the total fees together Rs 9,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

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-1

The guideline value is a critical factor during the registration of property transactions in Thandarai-1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is often used to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in property dealings.

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 much has the guideline value changed over the years?

The guideline value has changed from Rs 33 per sq.ft in 2017 to Rs 102 per sq.ft in 2024, marking an overall increase of 209%.

What are the other streets in Thandarai-1?

Other streets in Thandarai-1 include First street, Pillaiyarkovil street, Second street, and Turgai amman street, with guideline values ranging from Rs 100 to Rs 102 per sq.ft in 2024.

How is stamp duty calculated for properties in Ambedkar street?

Stamp duty for properties in Ambedkar street is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

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

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