Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Ambethkar Street has changed

The guideline value for Ambethkar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which was then reduced to Rs 1,072 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,600 per sq.ft in 2023 and further rose to Rs 1,700 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, while from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The most recent change from 2023 to 2024 reflects an increase of 6%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Ambethkar Street's 2024 figure below that median.

• Ambika Nagar: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 2nd Main Road: Rs 2,750 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambethkar Street?

The Sub Registrar Office that covers Ambethkar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the actual sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that transactions are conducted transparently and in accordance with legal requirements.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

The current guideline value of Ambethkar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 6% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, which is higher than the current value of Ambethkar Street.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for Ambethkar Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.