Guideline Value for Ambethkar Colony (Gunamanam Colony)

Ambethkar Colony (Gunamanam Colony) guideline value

The current guideline value of Ambethkar Colony (Gunamanam Colony) is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Ambethkar Colony (Gunamanam Colony) has changed

Over the years, the guideline value of Ambethkar Colony has seen significant changes. The 2007 revision recorded a guideline value of Rs 850 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 253%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a reduction of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest 2024 revision has set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 288%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which means that the guideline value of Ambethkar Colony (Gunamanam Colony) is below this median.

• Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Ameethiya Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Ameethiya Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Amman Koil Street: Rs 5,500 per sq.ft (2024)
• Adisan Colony: Rs 4,400 per sq.ft (2024)
• Adimoola Perumal Street (Adikesavaperumal Koil Street): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Colony (Gunamanam Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Ambethkar Colony (Gunamanam Colony)?

The Sub Registrar Office that covers Ambethkar Colony (Gunamanam Colony) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Saligramam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When you approach the registration office, the guideline value will be used to calculate the stamp duty and registration fees based on the property's size and the applicable rates. This ensures that all transactions are transparent and adhere to the legal framework set by the authorities.

Frequently asked questions

What is the current guideline value of Ambethkar Colony (Gunamanam Colony)?

The current guideline value of Ambethkar Colony (Gunamanam Colony) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 288% over the years.

What are the stamp duty and registration fees in Ambethkar Colony?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Ambethkar Colony?

The Virugambakkam Sub Registrar Office covers Ambethkar Colony, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Ambethkar Colony?

Ambethkar Colony (Gunamanam Colony) is classified as Residential Class III Type - I.