Guideline Value for Ambethkar Nagar 1st Street

Ambethkar Nagar 1st Street guideline value

The current guideline value of Ambethkar Nagar 1st 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 Ambethkar Nagar 1st Street has changed

The guideline value for Ambethkar Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and finally rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. Overall, comparing the 2012 and 2024 figures, there has been a 10% increase in the guideline value.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Ambethkar Nagar 1st Street is below this median.

• Ambethkar Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Ambethkar Nagar Extn: Rs 1,100 per sq.ft (2024)
• Ambedkar Street: Rs 1,100 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Ambethkar Nagar 1st 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, bringing the total cost for these fees to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ambethkar Nagar 1st Street?

The Sub Registrar Office that covers Ambethkar Nagar 1st 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 further assistance.

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

The guideline value plays a crucial role in the property registration process in Selaiyur. It serves as a reference point for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ambethkar Nagar 1st Street?

The current guideline value of Ambethkar Nagar 1st 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 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Ambethkar Nagar 1st Street?

Ambethkar Nagar 1st Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property transactions in Selaiyur?

The stamp duty rate for property transactions in Selaiyur is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.