Guideline Value for Ambetkar street

Ambetkar street guideline value

The current guideline value of Ambetkar street in Ikkadu village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Ambetkar street has changed

The guideline value for Ambetkar street has seen several revisions over the years. In 2007, the value was Rs 50 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The 2023 revision maintained the value at Rs 500 per sq.ft, and the 2024 revision also holds the same figure, showing no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 900%. The revisions for the years 2002 and 2003 do not have any figures recorded for Ambetkar street in the register.

Guideline values in Ikkadu

In Ikkadu, there are 51 streets under the Tiruvallur Joint 1 SRO that have a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft, with a median value of Rs 400 per sq.ft. Ambetkar street's 2024 guideline value is above this median.

• Ambedkar Nagar: Rs 500 per sq.ft (2024)
• Amala Nagar: Rs 400 per sq.ft (2024)
• Anna Nagar: Rs 500 per sq.ft (2024)
• ArunaChalam Street: Rs 300 per sq.ft (2024)
• Balaji Nagar: Rs 500 per sq.ft (2024)
• Elumalai Garden: Rs 626 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total fees Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambetkar street?

The Sub Registrar Office that covers Ambetkar street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ikkadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transfer of ownership.

Frequently asked questions

What is the current guideline value of Ambetkar street?

The current guideline value of Ambetkar street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the land classification for Ambetkar street?

Ambetkar street is classified as Residential Class II Type - I under the guideline value register.

Where can I find the registration office for Ambetkar street?

The registration office for Ambetkar street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is stamp duty calculated for properties in Ikkadu?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 5,00,000 would incur a stamp duty of Rs 35,000 at a rate of 7%.