Guideline Value for Ambica Street

Ambica Street guideline value

The current guideline value of Ambica Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the jurisdiction of Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ambica Street has changed

The guideline value for Ambica Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, the value dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The value then rose sharply to Rs 4,500 per sq.ft in 2023, and most recently, it has increased to Rs 4,950 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for Ambica Street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Ambica Street's 2024 figure above that median.

• Amirtham Avenue: Rs 3,850 per sq.ft (2024)
• Amirtham Avenue (Udayam Nagar): Rs 3,850 per sq.ft (2024)
• Ambedkar Street: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar Main Salai: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ambica Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost together to Rs 4,45,500. 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 detailed calculations.

Which Sub Registrar Office covers Ambica Street?

The Sub Registrar Office that covers Ambica Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that both buyers and sellers are aware of the official valuation.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential costs for completing the transaction. This ensures transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ambica Street?

The current guideline value of Ambica Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,500 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, with Ambica Street's current value being above this median.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Where is the Sub Registrar Office for Ambica Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.