Guideline Value for Ambethkar Street

Ambethkar Street guideline value

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

How the guideline value of Ambethkar Street has changed

Over the years, the guideline value of Ambethkar Street has seen several revisions. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 186% rise. However, the value then decreased by 33% to Rs 1,340 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 2,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for this street in 2002 and 2003.

Guideline values in Thalakanancherry

In Thalakanancherry village, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Ambethkar Street is below this median.

• A.M.Jain College Staff Colony/Jain Staff Colony: Rs 3,900 per sq.ft (2024)
• Amman Koil Street (Gandhi Nagar): Rs 2,200 per sq.ft (2024)
• A G S Colony: Rs 4,400 per sq.ft (2024)
• Annasalai: Rs 2,800 per sq.ft (2024)
• Anna Street: Rs 2,800 per sq.ft (2024)
• Arul Jothi Nagar: Rs 2,800 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 would be Rs 22,00,000. The stamp duty at 7% would amount to 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. 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 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 Thalakanancherry

The guideline value is a crucial factor during the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling properties.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives appropriate revenue based on the value of the property being transferred.

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 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What are the other streets in Thalakanancherry with their guideline values?

Other streets in Thalakanancherry include A.M.Jain College Staff Colony at Rs 3,900 per sq.ft, Amman Koil Street at Rs 2,200 per sq.ft, A G S Colony at Rs 4,400 per sq.ft, and several others ranging from Rs 2,800 to Rs 3,900 per sq.ft.

What is the stamp duty rate for properties in Ambethkar Street?

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

Where can I find the Sub Registrar Office for Ambethkar Street?

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