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 Saligramam village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Ambethkar Street has changed

The guideline value for Ambethkar Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, which was raised to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 200%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Saligramam

In Saligramam, there are a total of 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that Ambethkar Street's 2024 figure is below this median.

• Ambethkar Colony (Gunamanam Colony): Rs 3,300 per sq.ft (2024)
• Ameethiya Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Ameethiya Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Amman Koil Street: Rs 5,500 per sq.ft (2024)
• Adisan Colony: Rs 4,400 per sq.ft (2024)
• Adimoola Perumal Street (Adikesavaperumal Koil Street): Rs 4,400 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, totaling Rs 2,97,000. Please note that the 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of properties in Saligramam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies 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 1,100 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking a total increase of 200% over the years.

What is the land classification for Ambethkar Street?

Ambethkar Street is classified as Residential Class III Type - I.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value, while the registration fee is 2% of the guideline value or 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.