Guideline Value for Ambethkar Cross Street

Ambethkar Cross Street guideline value

The current guideline value of Ambethkar Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Ambethkar Cross Street has changed

The guideline value for Ambethkar Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 231 per sq.ft. This increased to Rs 259 per sq.ft in 2003, marking a rise of 12%. The value then experienced a significant increase of 286% to reach Rs 1,000 per sq.ft in 2007. Following this, the value doubled to Rs 2,000 per sq.ft in 2012, reflecting a 100% increase. However, from 2012 to 2017, there was a decline of 33%, bringing the value down to Rs 1,340 per sq.ft. The subsequent revision in 2023 saw a substantial increase of 49%, raising the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 further increased it by 10% to the current rate of Rs 2,200 per sq.ft.

There are no figures available for the years not mentioned in the register for this street. The overall increase in the guideline value from 2002 to 2024 is 852%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value of Ambethkar Cross Street is below this median.

• Ambethkar Street: Rs 2,200 per sq.ft (2024)
• Amman Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Amman Nagar Main: Rs 2,800 per sq.ft (2024)
• Alex Street: Rs 2,200 per sq.ft (2024)
• Abraham street: Rs 3,900 per sq.ft (2024)
• Annamalai Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. 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 Cross Street?

The Sub Registrar Office that covers Ambethkar Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Ullagaram. It determines the amount of stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value serves as a benchmark for assessing the value of a property, ensuring that the transaction is recorded accurately.

When you engage in a property transaction, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ambethkar Cross Street?

The current guideline value of Ambethkar Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 231 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 852%.

What is the stamp duty rate for properties in Ambethkar Cross Street?

The stamp duty rate for properties in Ambethkar Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Ullagaram with their guideline values?

Other streets in Ullagaram include Ambethkar Street, Amman Nagar 1st Street, Amman Nagar Main, Alex Street, Abraham street, and Annamalai Street, with guideline values ranging from Rs 2,200 to Rs 3,900 per sq.ft.