Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street in Ullagaram 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 - II land classification.

How the guideline value of Ambethkar Street has changed

The guideline value for Ambethkar Street has seen several revisions over the years. In 2002, the value was Rs 231 per sq.ft, which increased to Rs 259 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,000 per sq.ft in 2007, and it doubled to Rs 2,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,340 per sq.ft. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, followed by the current value of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 852%. The register has no figure for Ambethkar Street for the years not listed in the revisions.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO carrying a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median of Rs 2,800 per sq.ft. Ambethkar Street's 2024 figure is below this median.

• Ambethkar Cross Street: Rs 2,200 per sq.ft (2024)
• Amman Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Amman Nagar Main: Rs 2,800 per sq.ft (2024)
• Alex Street: Rs 2,200 per sq.ft (2024)
• Abraham street: Rs 3,900 per sq.ft (2024)
• Annamalai Street: 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. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Ullagaram

The guideline value is an essential factor in property transactions in Ullagaram, as it determines the minimum price at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price.

When registering a property, the guideline value ensures that the transaction is documented at a fair price as per government standards. This process helps maintain transparency and legality in real estate transactions.

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 multiple times, starting from Rs 231 per sq.ft in 2002 to the current value of Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 852% since 2002.

What is the land classification of Ambethkar Street?

Ambethkar Street is classified as Residential Class II Type - II under the land classification system.

Where is the Alandur Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 1,98,000 in fees.