Guideline Value for Ambethkar Nagar

Ambethkar Nagar guideline value

The current guideline value of Ambethkar Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Ernavur village under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ambethkar Nagar has changed

The guideline value for Ambethkar Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, it decreased to Rs 1,474 per sq.ft in 2017. The 2023 revision set the value at Rs 2,200 per sq.ft, and the most recent revision in 2024 has increased it to Rs 2,400 per sq.ft. The register has no figure for this street in 2002 and 2003.

From 2007 to 2012, there was a remarkable increase of 780%. The value then decreased by 33% from 2012 to 2017. The guideline value then rose by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 shows an increase of 9%. Overall, from 2007 to 2024, the guideline value has increased by 860%.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. Ambethkar Nagar's 2024 guideline value is above this median.

• All India Radio Nagar: Rs 1,400 per sq.ft (2024)
• Adhidhravidar Nagar: Rs 1,400 per sq.ft (2024)
• Annai Sivagami Nagar: Rs 1,000 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,400 per sq.ft (2024)
• Balaji Nagar: Rs 1,600 per sq.ft (2024)
• Barath Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. 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 Nagar?

The Sub Registrar Office that covers Ambethkar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Ernavur. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold. The amount is based on the current guideline value set by the Registration Department.

When a buyer or seller engages in a transaction, the guideline value helps establish a legal framework for the sale price, ensuring that the property is registered at a value that reflects the current market conditions as assessed by the authorities.

Frequently asked questions

What is the current guideline value of Ambethkar Nagar?

The current guideline value of Ambethkar Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, with several revisions in between.

What is the land classification of Ambethkar Nagar?

Ambethkar Nagar is classified as Residential Special Type - I under the guideline value register.

What is the registration office for Ambethkar Nagar?

The registration office for Ambethkar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Ambethkar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty and registration fee of Rs 2,16,000.