Guideline Value for Ambetkar Street (ward 5)

Ambetkar Street (ward 5) guideline value

The current guideline value of Ambetkar Street (ward 5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Periyapanancheri village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ambetkar Street (ward 5) has changed

The guideline value for Ambetkar Street (ward 5) has seen several revisions over the years. The 2017 revision recorded a guideline value of Rs 804 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Periyapanancheri

In Periyapanancheri, there are a total of 33 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 990 to Rs 4,925 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is equal to the current value for Ambetkar Street (ward 5).

• Ambetkar Street (ward 6): Rs 1,320 per sq.ft (2024)
• Ambal Nagar: Rs 1,320 per sq.ft (2024)
• Anandha Vinayagar Nagar: Rs 1,320 per sq.ft (2024)
• Anna Street: Rs 2,200 per sq.ft (2024)
• Balakrishna Nagar: Rs 1,320 per sq.ft (2024)
• Balakrishnan Street: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Ambetkar Street (ward 5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, these fees would total Rs 1,18,800. It is important to note that 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Ambetkar Street (ward 5)?

The Sub Registrar Office that covers Ambetkar Street (ward 5) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Periyapanancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are documented accurately and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the actual sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ambetkar Street (ward 5)?

The current guideline value of Ambetkar Street (ward 5) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification for Ambetkar Street (ward 5)?

The land classification for Ambetkar Street (ward 5) is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ambetkar Street (ward 5)?

The Sub Registrar Office for Ambetkar Street (ward 5) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details through the relevant links.