Guideline Value for Ambika Nagar 3rd Cross Street

Ambika Nagar 3rd Cross Street guideline value

The current guideline value of Ambika Nagar 3rd 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 and is classified as Commercial Class I Type - I.

How the guideline value of Ambika Nagar 3rd Cross Street has changed

The guideline value for Ambika Nagar 3rd Cross Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023 and further rose to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value saw a substantial increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. Ambika Nagar 3rd Cross Street's current guideline value is above this median.

• Ambika Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 3rd Main Road: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 4th Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ambika Nagar 3rd 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 amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambika Nagar 3rd Cross Street?

The Sub Registrar Office that covers Ambika Nagar 3rd 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, in the Chengalpattu registration zone. You can find your SRO online.

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

The guideline value is a crucial factor when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value 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 applicable stamp duty and registration fees. This ensures that the transaction is documented accurately and that all legal requirements are met, safeguarding the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Ambika Nagar 3rd Cross Street?

The current guideline value of Ambika Nagar 3rd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly. It was Rs 2,500 per sq.ft in 2012, decreased to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,750 per sq.ft in 2024.

What is the land classification of Ambika Nagar 3rd Cross Street?

Ambika Nagar 3rd Cross Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000.

Which office handles registrations for Ambika Nagar 3rd Cross Street?

The Selaiyur Sub Registrar Office handles registrations for Ambika Nagar 3rd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.