Guideline Value for Ambika Nagar 2nd Cross Street

Ambika Nagar 2nd Cross Street guideline value

The current guideline value of Ambika Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Ambika Nagar 2nd Cross Street has changed

The guideline value for Ambika Nagar 2nd Cross Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, an increase of 10% from Rs 2,500 per sq.ft in 2023. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, marking a significant increase of 49% by 2023. There is no figure available for the revisions in 2002, 2003, and 2007.

In 2012, the guideline value was Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%, indicating some fluctuations in the values over the years.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, placing Ambika Nagar 2nd Cross Street's 2024 figure above this median.

• Ambika Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ambika Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. 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 Ambika Nagar 2nd Cross Street?

The Sub Registrar Office that covers Ambika Nagar 2nd Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value of a property, which is used to calculate the stamp duty and registration fees applicable during the sale or purchase process.

When you buy or sell property, the guideline value ensures that the transaction is documented at a fair value, preventing undervaluation. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ambika Nagar 2nd Cross Street?

The current guideline value of Ambika Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, with various fluctuations in between, including a decrease in 2012.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Ambika Nagar 2nd Cross Street?

The registrations for Ambika Nagar 2nd Cross Street are handled by the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Ambika Nagar 2nd Cross Street?

Ambika Nagar 2nd Cross Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.