Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Malaipattu village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ambethkar Street has changed

Looking at the revisions, the guideline value for Ambethkar Street has seen several changes over the years. The 2012 revision recorded a value of Rs 200 per sq.ft, which then decreased to Rs 134 per sq.ft in the 2017 revision. Following this, the value increased back to Rs 200 per sq.ft in both the 2023 and 2024 revisions, indicating a +49% change from 2017 to 2023, and a 0% change from 2023 to 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 200 per sq.ft. The consistent figure in the recent years suggests stability in the guideline value for Ambethkar Street.

Guideline values in Malaipattu

In Malaipattu, there are 36 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,181 per sq.ft, with the median being Rs 200 per sq.ft. Ambethkar Street's 2024 figure aligns with this median value.

• Agraharam: Rs 441 per sq.ft (2024)
• Adithya Nagar: Rs 500 per sq.ft (2024)
• Anna Nagar: Rs 200 per sq.ft (2024)
• Anna Street: Rs 150 per sq.ft (2024)
• Arunthava Nagar: Rs 200 per sq.ft (2024)
• Bharathidhasan Street: Rs 150 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. 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 covering 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 Malaipattu

The guideline value plays a crucial role during property transactions in Malaipattu. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value ensures that the property is registered at a fair value, which is essential for legal and taxation purposes.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in real estate transactions, ensuring that all parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

The current guideline value of Ambethkar Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification for Ambethkar Street?

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

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 Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties on Ambethkar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 200 per sq.ft would incur a total stamp duty of Rs 14,000.