Guideline Value for Ambika Nagar 3rd Street

Ambika Nagar 3rd Street guideline value

The current guideline value of Ambika Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

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

The guideline value for Ambika Nagar 3rd Street has undergone several revisions over the years. The earliest recorded figure available is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a drop of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and then further rose to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Selavoyal

In Selavoyal, there are a total of 170 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with the median value being Rs 2,200 per sq.ft. The guideline value of Ambika Nagar 3rd Street aligns perfectly with this median.

• Ambika Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Ambika Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Ambika Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Ambika Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Andal Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Andal Nagar Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ambika Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ambika Nagar 3rd Street?

The Sub Registrar Office that covers Ambika Nagar 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Selavoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid disputes and ensure compliance with local regulations.

Frequently asked questions

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

The current guideline value of Ambika Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

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

Ambika Nagar 3rd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Ambika Nagar 3rd Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Ambika Nagar 3rd Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.