Guideline Value for Ambethkar Street (ward 3)

Ambethkar Street (ward 3) guideline value

The current guideline value of Ambethkar Street (ward 3) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tharapakkam village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Ambethkar Street (ward 3) has changed

The guideline value for Ambethkar Street (ward 3) has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which was increased to Rs 1,000 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the value further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from the 2017 to 2023 revision was 49%.

Guideline values in Tharapakkam

In Tharapakkam village, there are 47 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is equal to the current guideline value of Ambethkar Street (ward 3).

• Ambethkar Street (ward 2): Rs 1,100 per sq.ft (2024)
• Ambethkar Street (ward 4): Rs 1,100 per sq.ft (2024)
• Amman Koil Street (ward 5): Rs 990 per sq.ft (2024)
• Amman Koil Street (ward 7): Rs 990 per sq.ft (2024)
• Alex Nagar: Rs 1,100 per sq.ft (2024)
• Abhirudhi Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Street (ward 3)

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, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambethkar Street (ward 3)?

The Sub Registrar Office that covers Ambethkar Street (ward 3) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Tharapakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area. Buyers should be aware that the guideline value is a key factor in calculating these costs.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value as determined by the government. This helps maintain transparency in property dealings and provides a standard for assessing property values in the region.

Frequently asked questions

What is the current guideline value of Ambethkar Street (ward 3)?

The current guideline value of Ambethkar Street (ward 3) 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 increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over the seven-year period.

What are the stamp duty and registration fees for property in Ambethkar Street (ward 3)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Which Sub Registrar Office covers Ambethkar Street (ward 3)?

The Pammal Sub Registrar Office covers Ambethkar Street (ward 3), located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Ambethkar Street (ward 3)?

The land classification for Ambethkar Street (ward 3) is Residential Class I Type - I.