Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Maathoor village, under the Sunguvarchattram SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Ambethkar Street has changed

The guideline value for Ambethkar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a decrease to Rs 335 per sq.ft, before returning to Rs 500 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2017 to 2023 revision, there was a significant increase of 49%. In contrast, the overall change from the 2012 revision to the 2024 revision shows no increase, maintaining the value at Rs 500 per sq.ft. This consistency indicates that the guideline value has stabilized since the last revision.

Guideline values in Maathoor

In Maathoor, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,687 per sq.ft. The median guideline value is Rs 500 per sq.ft, which is equal to the current value of Ambethkar Street.

• Angallamman Kovil Main Road: Rs 505 per sq.ft (2024)
• Angallamman Kovil Street: Rs 505 per sq.ft (2024)
• Angu Nagar: Rs 250 per sq.ft (2024)
• Agathiyar Street: Rs 500 per sq.ft (2024)
• Agaligai Street: Rs 500 per sq.ft (2024)
• Arunagiriyar Street: Rs 500 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, calculated at 7%, would be Rs 35,000, while the registration fee at 2% would be Rs 10,000. Together, the total fees would amount to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Maathoor. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the transfer of property ownership.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the government receives the appropriate revenue from property transactions. Buyers should be aware that the guideline value may differ from the actual sale price, but the duty will be charged based on the higher amount.

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 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2012 to the 2024 revision, with a decrease to Rs 335 per sq.ft in 2017, and an increase of 49% from 2017 to 2023.

What is the land classification for Ambethkar Street?

Ambethkar Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 45,000.

Which office handles registrations for Ambethkar Street?

The Sunguvarchattram Sub Registrar Office is responsible for handling registrations for Ambethkar Street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.