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 Vada Mangalam village and falls under the Sunguvarchattram SRO with a land classification of Residential Class II 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. In the 2012 revision, the value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 134 per sq.ft, marking a -33% change. However, in the 2023 revision, the value returned to Rs 200 per sq.ft and remained the same in the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of +49%. Overall, comparing the 2012 to 2024 revisions, the guideline value has remained constant at Rs 200 per sq.ft, indicating stability in the value over this period. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, with a median value of Rs 250 per sq.ft. Ambethkar Street's 2024 figure is below this median.

• Arulvazhi Chittar Nagar: Rs 400 per sq.ft (2024)
• Bharathiyar Street: Rs 200 per sq.ft (2024)
• Ettiyamman Koil Street: Rs 200 per sq.ft (2024)
• Gandhi Street: Rs 200 per sq.ft (2024)
• Indhira Nagar: Rs 350 per sq.ft (2024)
• Iswarya Lakshmi Nagar: Rs 350 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 amounts to Rs 2,00,000. The stamp duty at 7% would be 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. You can also use our stamp duty and registration fee calculator for more details.

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 Vada Mangalam

The guideline value plays a crucial role when buying or selling property in Vada Mangalam. It is used to determine the stamp duty and registration fees payable during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the property is assessed fairly for taxation purposes. It helps maintain uniformity in property transactions and provides a clear framework for both buyers and sellers.

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 remained at Rs 200 per sq.ft since the 2012 revision, with a decrease to Rs 134 per sq.ft in 2017, followed by a return 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 II Type - I under the guideline value register.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000, and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which Sub Registrar Office covers Vada Mangalam?

The Sunguvarchattram Sub Registrar Office covers Vada Mangalam, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.