Guideline Value for Ambikabathi Street

Ambikabathi Street guideline value

The current guideline value of Ambikabathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the jurisdiction of the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ambikabathi Street has changed

In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 has further raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Ambikabathi Street's 2024 figure below that median.

• Ameeram Street: Rs 2,200 per sq.ft (2024)
• Ambica Street: Rs 2,200 per sq.ft (2024)
• Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Amman Nagar: Rs 2,750 per sq.ft (2024)
• Ambedkar Salai, Periyar Nagar Extn: Rs 3,850 per sq.ft (2024)
• Ambedkar Salai, Enfield Avenue: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ambikabathi Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee, charged at 2%, would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambikabathi Street?

The Sub Registrar Office covering Ambikabathi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for calculating the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value will be referenced to determine the applicable fees. It is essential to ensure that the transaction complies with these values to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Ambikabathi Street?

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

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is above the current guideline value of Ambikabathi Street.