Guideline Value for Ambetkar Street

Ambetkar Street guideline value

The current guideline value of Ambetkar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolapakkam village under the Pammal SRO, classified as Residential Class IV Type - I.

How the guideline value of Ambetkar Street has changed

The guideline value for Ambetkar Street has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 1,005 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Ambetkar Street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ambetkar Street's 2024 figure below this median.

• Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Akashya Nagar: Rs 2,200 per sq.ft (2024)
• Agatheeswarar Koil Street: Rs 2,200 per sq.ft (2024)
• Annai Therasa Nagar: Rs 2,200 per sq.ft (2024)
• Anna Main Road (ward 2): Rs 2,750 per sq.ft (2024)
• Anna Main Road (ward 4): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ambetkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these charges Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambetkar Street?

The Sub Registrar Office that covers Ambetkar Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Kolapakkam

The guideline value is a crucial factor in property transactions in Kolapakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that the transaction is officially recorded and recognized by the authorities.

Frequently asked questions

What is the current guideline value of Ambetkar Street?

The current guideline value of Ambetkar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000. The stamp duty is Rs 1,15,500, and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations in Kolapakkam?

The Pammal Sub Registrar Office handles property registrations for Ambetkar Street and is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Kolapakkam?

The median guideline value for streets in Kolapakkam is Rs 2,200 per sq.ft, which is higher than the current value of Ambetkar Street.