Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village under the Alandur SRO, classified as Residential Class II Type - III.

How the guideline value of Ambethkar Street has changed

Ambethkar Street has seen several revisions in its guideline value over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure dropped to Rs 1,340 per sq.ft in 2017 before rising again to Rs 2,000 per sq.ft in 2023. The current value of Rs 2,200 per sq.ft represents a 10% increase from the 2023 revision.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 450%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam village has a total of 76 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value in the village is Rs 3,900 per sq.ft, placing Ambethkar Street's current value below that median.

• Arcot pattai 1st Street: Rs 3,300 per sq.ft (2024)
• Arcot Pattai 2nd Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,300 per sq.ft (2024)
• Burma Colony: Rs 2,200 per sq.ft (2024)
• Deffence Officers Colony: Rs 6,600 per sq.ft (2024)
• Deffence Officers Colony Main Road: Rs 6,600 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ambethkar Street?

The Sub Registrar Office covering Ambethkar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Nandhambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fee. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

The current guideline value of Ambethkar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 450% over the years.

What are the stamp duty and registration fees for properties on Ambethkar Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Ambethkar Street?

The Alandur Sub Registrar Office handles property registrations for Ambethkar Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

Where does Ambethkar Street's guideline value stand compared to other streets in Nandhambakkam?

Ambethkar Street's guideline value of Rs 2,200 per sq.ft is below the median value of Rs 3,900 per sq.ft for other streets in Nandhambakkam.