Guideline Value for Ambujammal Street (Ward-22)

Ambujammal Street (Ward-22) guideline value

The current guideline value of Ambujammal Street (Ward-22) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ambujammal Street (Ward-22) has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent 2024 revision has seen a significant increase, bringing the guideline value back up to Rs 1,600 per sq.ft, which is a rise of 59% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. The register has no figures for the revisions in 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current value of Ambujammal Street (Ward-22).

• Ambujamaal St (Ponniamman Medu) (Ward-22): Rs 1,600 per sq.ft (2024)
• Ambethkar Nagar (Ward-13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 6th St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 5th St 6ht Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 4th St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)
• Ambedkhar 3rd St 6th Sub Division (Ward 13): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ambujammal Street (Ward-22)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 Ambujammal Street (Ward-22)?

The Sub Registrar Office that covers Ambujammal Street (Ward-22) 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 Madhavaram

The guideline value is a crucial factor when registering property in Madhavaram. It determines the minimum price at which a property can be sold and is used to calculate the stamp duty and registration fees during the transaction.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value as per the regulations set by the Registration Department. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ambujammal Street (Ward-22)?

The current guideline value of Ambujammal Street (Ward-22) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 7%.

What is the land classification for Ambujammal Street (Ward-22)?

The land classification for Ambujammal Street (Ward-22) is Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Ambujammal Street (Ward-22)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.