Guideline Value for Convent Street

Convent Street guideline value

The current guideline value of Convent Street in Menambedu village, under the Ambattur SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Convent Street has changed

The guideline value for Convent Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision, which represented a decline of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 1,000 per sq.ft in the 2023 revision. The 2024 revision also maintains this value, showing no change from the previous year.

It is important to note that the register has no figures for Convent Street in the years 2002, 2003, and 2007. Therefore, the only available figures are from the revisions in 2012, 2017, 2023, and 2024.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. Convent Street's 2024 guideline value is below this median.

• City babu Naidu Street: Rs 1,000 per sq.ft (2024)
• DABC Layout: Rs 1,000 per sq.ft (2024)
• Devagi Street: Rs 1,000 per sq.ft (2024)
• Devan Street: Rs 1,700 per sq.ft (2024)
• Devar Street (Arumuganagar): Rs 1,700 per sq.ft (2024)
• Devar Street (Gnanamoorthy Nagar): Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Convent Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, resulting in a total of Rs 90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Convent Street?

The Sub Registrar Office covering Convent Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Menambedu. It serves as the basis for calculating stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When registering a property, the guideline value helps to determine the official value of the property for legal and taxation purposes. This ensures transparency and helps maintain a standard in property transactions within the region.

Frequently asked questions

What is the current guideline value of Convent Street?

The current guideline value of Convent Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023 and remains the same in 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification of Convent Street?

Convent Street is classified as Residential Class III Type - I under the land classification system.

What are the stamp duty and registration fees for a property in Convent Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 70,000 and the registration fee is Rs 20,000, making a total of Rs 90,000.

Where is the Sub Registrar Office for Convent Street located?

The Sub Registrar Office for Convent Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.