Guideline Value for Ambika Nagar

Ambika Nagar guideline value

The current guideline value of Ambika Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - II.

How the guideline value of Ambika Nagar has changed

Over the years, the guideline value of Ambika Nagar has seen significant changes. The earliest recorded revision in 2007 set the value at Rs 120 per sq.ft. This figure increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 1150%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, which is a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, reflecting an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1275%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is the same as the guideline value for Ambika Nagar. Below are other streets in Varadarajapuram:

• Amman Nagar: Rs 1,650 per sq.ft (2024)
• Ambedhkar Street: Rs 1,650 per sq.ft (2024)
• Amball Nagar: Rs 990 per sq.ft (2024)
• Amal Nagar: Rs 990 per sq.ft (2024)
• Albin nagar: Rs 1,320 per sq.ft (2024)
• Annai Anandha Nagar Phase II: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ambika Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty is calculated at 7%, which equals Rs 1,15,500, and the registration fee is charged at 2%, amounting to Rs 33,000. Therefore, the total cost for stamp duty and registration fee together is Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambika Nagar?

The Sub Registrar Office that covers Ambika Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varadarajapuram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the market conditions and property values in the area.

Frequently asked questions

What is the current guideline value of Ambika Nagar?

The current guideline value of Ambika Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 120 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, which is an overall increase of 1275%.

What is the registration office for Ambika Nagar?

The registration office for Ambika Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same amount.

What are the guideline values of other streets in Varadarajapuram?

Other streets in Varadarajapuram have varying guideline values, with some streets like Amman Nagar and Ambedhkar Street also having a guideline value of Rs 1,650 per sq.ft in 2024.