Guideline Value for Ambethkar Nagar

Ambethkar Nagar guideline value

The current guideline value of Ambethkar Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Special Type - I.

How the guideline value of Ambethkar Nagar has changed

The guideline value for Ambethkar Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a remarkable rise of 380%. However, in 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The value remained at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 380%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. Ambethkar Nagar's 2024 figure aligns with this median.

• Ambujam Nagar: Rs 1,200 per sq.ft (2024)
• Ammakannu Nagar: Rs 1,200 per sq.ft (2024)
• Amma Nagar: Rs 1,200 per sq.ft (2024)
• Akchaya Nagar: Rs 1,200 per sq.ft (2024)
• Abi Krishna Nagar Phase-II: Rs 1,300 per sq.ft (2024)
• Aathilakshmi Avenue: Rs 1,200 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total cost Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambethkar Nagar?

The Sub Registrar Office that covers Ambethkar Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer and seller must consider the guideline value for calculating the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Ambethkar Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 250 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012. The value remained at Rs 1,200 per sq.ft in both 2023 and 2024.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam with a guideline value of Rs 1,200 per sq.ft include Ambujam Nagar, Ammakannu Nagar, Amma Nagar, Akchaya Nagar, and Aathilakshmi Avenue.

What is the registration office for Ambethkar Nagar?

The registration office for Ambethkar Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ambethkar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000.