Guideline Value for Ambika Nagar 7th Street

Ambika Nagar 7th Street guideline value

The current guideline value of Ambika Nagar 7th 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 7th Street has changed

In the 2012 revision, the guideline value for Ambika Nagar 7th Street was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry 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. The guideline value of Ambika Nagar 7th Street is above this median.

• Ambika Nagar 7th Main Road: Rs 2,750 per sq.ft (2024)
• Ambika Nagar Extension: Rs 2,750 per sq.ft (2024)
• Ambika Nagar Extension 1st Main Road: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 7th Cross Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar Grave Yard Road: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 6th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ambika Nagar 7th 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, resulting in a total of Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ambika Nagar 7th Street?

The Sub Registrar Office that covers Ambika Nagar 7th 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 for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ambika Nagar 7th Street?

The current guideline value of Ambika Nagar 7th 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 remained at Rs 2,500 per sq.ft from 2012 to 2023, but it increased to Rs 2,750 per sq.ft in 2024, marking a 10% rise from the previous year.

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 property registrations for Ambika Nagar 7th Street?

The Selaiyur Sub Registrar Office is responsible for property registrations in Ambika Nagar 7th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the land classification of Ambika Nagar 7th Street?

Ambika Nagar 7th Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.