Guideline Value for Ambika Nagar 4th Street

Ambika Nagar 4th Street guideline value

The current guideline value of Ambika Nagar 4th 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 4th Street has changed

Over the years, the guideline value for Ambika Nagar 4th Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later reduced to Rs 1,340 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has further raised the guideline value to Rs 2,200 per sq.ft, an increase of 10% from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Selavoyal

In Selavoyal village, there are 170 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Ambika Nagar 4th Street.

• Ambika Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Ambika Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Ambika Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Ambika Nagar 1st 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambika Nagar 4th Street?

The Sub Registrar Office covering Ambika Nagar 4th 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 plays a crucial role in the registration process when buying or selling property 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 a property is sold, the buyer and seller must consider the guideline value in their transaction. The stamp duty and registration fees are calculated based on this value, or the sale price, whichever is higher. This ensures transparency and helps in maintaining a fair valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Ambika Nagar 4th Street?

The current guideline value of Ambika Nagar 4th 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 increased 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 4th Street?

Ambika Nagar 4th Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Ambika Nagar 4th Street?

The Sub Registrar Office for Ambika Nagar 4th Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Ambika Nagar 4th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000.