Guideline Value for Ambethkar Street - Chimtenkulam

Ambethkar Street - Chimtenkulam guideline value

The current guideline value of Ambethkar Street - Chimtenkulam is Rs 4,400 per sq.ft. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ambethkar Street - Chimtenkulam has changed

The guideline value for Ambethkar Street - Chimtenkulam has undergone several revisions since 2003. In 2003, the guideline value was Rs 655 per sq.ft, which increased to Rs 750 per sq.ft in 2007. Following this, the value saw a significant jump to Rs 4,000 per sq.ft in 2012, before dropping to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023 and has now reached Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 572%. The register has no figure for the year 2002 for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Ambethkar Street - Chimtenkulam.

• Alwarthiru Nagar Annexe School View Street: Rs 5,500 per sq.ft (2024)
• Anna Colony: Rs 4,400 per sq.ft (2024)
• Abusali Street - Virugambakkam: Rs 7,150 per sq.ft (2024)
• Abirami Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• Abirami Nagar 1st Street: Rs 4,950 per sq.ft (2024)
• Annaji Rao Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Street - Chimtenkulam

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambethkar Street - Chimtenkulam?

The Sub Registrar Office that covers Ambethkar Street - Chimtenkulam is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers ensure they are compliant with local regulations during property transactions. It is advisable to check the latest figures to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ambethkar Street - Chimtenkulam?

The current guideline value of Ambethkar Street - Chimtenkulam is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 655 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 572% over this period.

What is the land classification for Ambethkar Street - Chimtenkulam?

Ambethkar Street - Chimtenkulam is classified as Residential Class III Type - I according to the local land classification standards.

Which Sub Registrar Office handles registrations for this street?

The Virugambakkam Sub Registrar Office handles registrations for Ambethkar Street - Chimtenkulam, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.