Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Ambethkar Street has changed

Over the years, the guideline value for Ambethkar Street has seen several revisions. The earliest recorded figure is Rs 171 per sq.ft in 2003, which increased significantly to Rs 400 per sq.ft in 2007, marking a 134% rise. In 2012, the value remained unchanged at Rs 700 per sq.ft, but it dropped by 33% to Rs 469 per sq.ft in 2017. The value then rose sharply to Rs 700 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 770 per sq.ft in 2024.

In summary, the guideline value has increased overall by 350% from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024. The register has no figure for this street in 2002.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the current guideline value of Ambethkar Street.

• Anbazhagan Street: Rs 770 per sq.ft (2024)
• Alayathamman Nagar: Rs 1,320 per sq.ft (2024)
• Anna Durai Street: Rs 770 per sq.ft (2024)
• Annai Therasa Street: Rs 770 per sq.ft (2024)
• Annamalai Street: Rs 770 per sq.ft (2024)
• Anna Street: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Ambethkar Street?

The Sub Registrar Office that covers Ambethkar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Padiyanallur. 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 a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which must be paid at the time of registration. This ensures compliance with legal requirements and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

The current guideline value of Ambethkar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 350% over this period.

What is the registration office for Ambethkar Street?

The registration office for Ambethkar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for property in Ambethkar Street?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration. It is compared to the sale price, and the higher value is used to calculate the stamp duty and registration fees.