Guideline Value for Ambethkar Street

Ambethkar Street guideline value

The current guideline value of Ambethkar Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Ambethkar Street has changed

The guideline value for Ambethkar Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 500 per sq.ft, which increased to Rs 800 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 536 per sq.ft. The next revision in 2023 saw a significant increase to Rs 800 per sq.ft, and the current revision in 2024 has set the guideline value at Rs 880 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 76%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Ambethkar Street's 2024 figure below that median.

• Anandapuram: Rs 880 per sq.ft (2024)
• Abirami Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Abirami Nagar (Balaraman Street): Rs 2,200 per sq.ft (2024)
• Abirami Nagar 2-nd Cross St: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 1-st Cross St: Rs 2,200 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty, charged at 7%, would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. 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 details.

Which Sub Registrar Office covers Ambethkar Street?

The Sub Registrar Office that covers Ambethkar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a critical role in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When a property is sold, the guideline value is used to ascertain the minimum value for which the property can be registered. This helps maintain transparency in property transactions and ensures that the government receives appropriate revenue from stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Ambethkar Street?

The current guideline value of Ambethkar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 76%.

What is the land classification of Ambethkar Street?

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

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles the registration of properties in Ambethkar Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration of properties in Ambethkar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.