Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Mannivakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ambethkar Street has changed

Over the years, the guideline value of Ambethkar Street has seen significant changes. The earliest recorded value is from 2007, which was Rs 200 per sq.ft. This increased dramatically to Rs 700 per sq.ft in 2012, marking a rise of 250%. However, by 2017, the value dropped to Rs 469 per sq.ft, a decrease of 33%. The value then rose again to Rs 700 per sq.ft in 2023, before reaching the current figure of Rs 770 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 285%. It is important to note that there are no recorded figures for Ambethkar Street in the revisions of 2002 and 2003.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, placing Ambethkar Street's 2024 figure below that median.

• Amman Nagar: Rs 990 per sq.ft (2024)
• A.L.S. Garden: Rs 1,320 per sq.ft (2024)
• Andal Nagar: Rs 1,320 per sq.ft (2024)
• Anna Street: Rs 990 per sq.ft (2024)
• As Avenue: Rs 330 per sq.ft (2024)
• Ashtalakhmi Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Ambethkar Street

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling 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 the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ambethkar Street?

The Sub Registrar Office that covers Ambethkar Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. The guideline value must be considered during the registration process to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from 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 significantly, starting from Rs 200 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, showing an overall increase of 285%.

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

For a 1,000 sq.ft plot, the stamp duty is Rs 53,900, and the registration fee is Rs 15,400, totaling Rs 69,300.

Which office handles registrations for Ambethkar Street?

The Gooduvancheri Sub Registrar Office handles registrations for Ambethkar Street, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202.

What is the land classification for Ambethkar Street?

Ambethkar Street is classified as Residential Class II Type - I, which is important for understanding its intended use and development regulations.