Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 175 per sq.ft, effective from 1 July 2024. This street is located in Umaiyal Parancheri village, under the Sunguvarchattram SRO, and is classified as Residential Class III 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 175 per sq.ft. This was followed by a decrease to Rs 117 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 175 per sq.ft in the 2023 revision. The current guideline value remains unchanged at Rs 175 per sq.ft from the 2023 to the 2024 revision, reflecting a 0% change.

It is important to note that the register does not contain figures for Ambethkar Street for the years 2002, 2003, and 2007. Thus, only the revisions from 2012, 2017, 2023, and 2024 are available for reference.

Guideline values in Umaiyal Parancheri

In Umaiyal Parancheri, there are 18 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 175 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. Ambethkar Street's 2024 figure of Rs 175 per sq.ft is below this median.

• Arul Estate: Rs 250 per sq.ft (2024)
• Bharathidhasan Nagar: Rs 250 per sq.ft (2024)
• Erikkarai Street: Rs 175 per sq.ft (2024)
• Issai Estate: Rs 250 per sq.ft (2024)
• Kanniamman Kovil Street: Rs 175 per sq.ft (2024)
• L.K.S Garden: Rs 200 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 175 per sq.ft, the total guideline value would be Rs 1,75,000. The stamp duty, charged at 7%, would amount to Rs 12,250, while the registration fee at 2% would be Rs 3,500. Together, the total fees would be Rs 15,750. It is important to note that the 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. For more details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Umaiyal Parancheri. It serves as a base for calculating the stamp duty and registration fees, which are mandatory during the property registration process.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair price, reflecting the current market standards as set by the Registration Department. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

The current guideline value of Ambethkar Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2012 to Rs 117 per sq.ft in 2017, then increased to Rs 175 per sq.ft in 2023 and remains the same in 2024.

What is the land classification for Ambethkar Street?

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

Where is the Sub Registrar Office located for Ambethkar Street?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, 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 example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 15,750.