Guideline Value for Ambika Nagar

Ambika Nagar guideline value

The current guideline value of Ambika Nagar, located in Madambakkam village under the Selaiyur SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Ambika Nagar has changed

The guideline value for Ambika Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, up from Rs 2,500 per sq.ft in 2023, marking a 10% increase. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, which represented a significant 49% increase from the previous 2012 figure of Rs 2,500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2012 to 2024, there has been an overall increase of 10%. This indicates fluctuations in the guideline value over the years, reflecting changes in the local property market.

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 for Ambika Nagar is above this median, indicating its relative standing in the area.

• Ambika Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Ambika Nagar 2nd Street: Rs 2,750 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 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. Please note that the duty is charged on the higher of the guideline value or the sale price. You can 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 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 is a crucial factor in the registration process when buying or selling property in Madambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value of Ambika Nagar?

The current guideline value of Ambika Nagar 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 changed several times, with the most recent increase of 10% from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. The value also increased from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023.

What is the land classification of Ambika Nagar?

Ambika Nagar is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated in Ambika Nagar?

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 valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.