Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 500 per sq.ft, effective from the 2024 revision. This street is located in Karanaithangal village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ambethkar Street has changed

The guideline value for Ambethkar Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. However, by the 2023 revision, the value returned to Rs 500 per sq.ft, maintaining that figure through to the 2024 revision, which also stands at Rs 500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, while the overall change from 2012 to 2024 shows no variation, remaining at Rs 500 per sq.ft. This indicates a fluctuation in the guideline value over the years, with the most recent revisions stabilizing the value.

Guideline values in Karanaithangal

In Karanaithangal village, there are 17 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 471 to Rs 1,000 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Ambethkar Street at the median value for 2024.

• Amman Koil Street: Rs 500 per sq.ft (2024)
• Compact Homes-Madhulika: Rs 1,000 per sq.ft (2024)
• Compact Homes-Megha: Rs 1,000 per sq.ft (2024)
• Compact Homes-Vasanthaa: Rs 1,000 per sq.ft (2024)
• Compact Homs-Atana: Rs 1,000 per sq.ft (2024)
• JanRathinam Nagar: Rs 600 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, together totaling Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Karanaithangal. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for legal property transfers.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as determined by the state. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

The current guideline value of Ambethkar Street is Rs 500 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2012 to 2024, with a decrease to Rs 335 per sq.ft in 2017 and an increase back to Rs 500 per sq.ft in 2023.

What is the land classification for Ambethkar Street?

Ambethkar Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ambethkar Street?

The Sub Registrar Office for Ambethkar Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Ambethkar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the current rate, the total guideline value is Rs 5,00,000, leading to a stamp duty of Rs 35,000.