Guideline Value for Ambethkar Nagar 2nd Street

Ambethkar Nagar 2nd Street guideline value

The current guideline value of Ambethkar Nagar 2nd 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 2nd Street has changed

The guideline value for Ambethkar Nagar 2nd Street has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, but the value rose by 49% from 2017 to 2023. The increase from 2023 to 2024 is 10%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase.

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, with a median value of Rs 2,200 per sq.ft. The guideline value of Ambethkar Nagar 2nd Street is below this median.

• Ambethkar Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ambethkar Nagar 2nd Street?

The Sub Registrar Office that covers Ambethkar Nagar 2nd 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 more information.

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

The guideline value plays a crucial role when buying or selling property in Selaiyur. It serves as a benchmark for calculating the stamp duty and registration fees during the property registration process. Buyers and sellers should be aware that the guideline value is used to determine the official value of the property for taxation purposes.

When a property is sold, the sale price is compared to the guideline value, and the higher of the two is used to calculate the applicable fees. 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 2nd Street?

The current guideline value of Ambethkar Nagar 2nd 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 increased to Rs 1,000 per sq.ft in 2023, and is currently Rs 1,100 per sq.ft in 2024.

What is the land classification for Ambethkar Nagar 2nd Street?

Ambethkar Nagar 2nd Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 99,000.

Where is the Sub Registrar Office for Ambethkar Nagar 2nd Street located?

The Sub Registrar Office for Ambethkar Nagar 2nd Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.