Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Adayar village, under the Adayar SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Ambethkar Street has changed

The guideline value for Ambethkar Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a 100% increase. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value then rose significantly to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Notably, there are no figures available for Ambethkar Street in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Adayar

In Adayar village, there are 92 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. Ambethkar Street's 2024 value is below this median.

• Ambadi Road: Rs 9,400 per sq.ft (2024)
• Alandur Road: Rs 6,100 per sq.ft (2024)
• Anchaneyar Kovil Street: Rs 5,000 per sq.ft (2024)
• Anna Salai: Rs 15,400 per sq.ft (2024)
• Anna Salai Lane: Rs 10,500 per sq.ft (2024)
• Arulalamman Pettai Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the 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?

The Sub Registrar Office that covers Ambethkar Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Adayar. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps in determining the legal and financial obligations involved. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

The current guideline value of Ambethkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 120%.

Are there any years with no guideline value figures for Ambethkar Street?

Yes, the guideline value register has no figures for Ambethkar Street for the years 2002 and 2003.

What is the median guideline value for streets in Adayar?

The median guideline value for streets in Adayar is Rs 6,100 per sq.ft, while Ambethkar Street's current value is below this median.

What is the stamp duty rate for property transactions in Ambethkar Street?

The stamp duty rate for property transactions in Ambethkar Street is 7% of the guideline value or the sale price, whichever is higher.