Guideline Value for DOCTOR AMBETHCAR STREET

Doctor Ambethcar Street guideline value

The current guideline value of Doctor Ambethcar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Doctor Ambethcar Street has changed

The guideline value for Doctor Ambethcar Street has seen several revisions over the years. In 2003, the guideline value was Rs 346 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2007, marking a change of +218%. The value then rose to Rs 2,500 per sq.ft in 2012, reflecting an increase of +127%. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of -33%. The guideline value then climbed to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,750 per sq.ft in 2024, representing a change of +10%.

Overall, from 2003 to 2024, the guideline value has increased by +695%. It is important to note that the register has no figure for Doctor Ambethcar Street in 2002.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value of Doctor Ambethcar Street is below this median.

• Ekambara Naicken Street: Rs 2,750 per sq.ft (2024)
• Ellammal Nagar: Rs 3,100 per sq.ft (2024)
• Elumalai Street: Rs 3,100 per sq.ft (2024)
• Circular Road: Rs 3,100 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,750 per sq.ft (2024)
• Eswaran Nagar: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Doctor Ambethcar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the 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, totaling Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for additional calculations.

Which Sub Registrar Office covers Doctor Ambethcar Street?

The Sub Registrar Office that covers Doctor Ambethcar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is often considered the minimum price for property transactions in the area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from stamp duties and registration fees.

Frequently asked questions

What is the current guideline value of Doctor Ambethcar Street?

The current guideline value of Doctor Ambethcar Street 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 from Rs 346 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, indicating an overall increase of +695%.

What is the land classification for Doctor Ambethcar Street?

Doctor Ambethcar Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Doctor Ambethcar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Doctor Ambethcar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.