Guideline Value for DR. AMBEDKAR NAGAR 1ST CROSS STREET

Dr. Ambedkar Nagar 1st Cross Street guideline value

The current guideline value of Dr. Ambedkar Nagar 1st Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Dr. Ambedkar Nagar 1st Cross Street has changed

The guideline value for Dr. Ambedkar Nagar 1st Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The value then rose sharply to Rs 1,500 per sq.ft in 2023, representing a 49% increase, and most recently, it has been revised to Rs 1,600 per sq.ft in 2024, an increase of 7%.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO with a guideline value for 2024 ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, making the 2024 figure for Dr. Ambedkar Nagar 1st Cross Street below the median.

• Dr. Ambedkar Nagar 1st Street: Rs 1,600 per sq.ft (2024)
• Dr. Ambedkar Nagar 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Dr. Ambedkar Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Dr. Ambedkar Nagar 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Dr. Ambedkar Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Dr. Ambedkar Nagar 4th Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 1st Cross Street

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, charged at 7%, would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 Dr. Ambedkar Nagar 1st Cross Street?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives the appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the financial implications of the transaction. It is essential for buyers to be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar 1st Cross Street?

The current guideline value of Dr. Ambedkar Nagar 1st Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting a significant increase of 220% overall.

What is the registration office for Dr. Ambedkar Nagar 1st Cross Street?

The registration office for Dr. Ambedkar Nagar 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Dr. Ambedkar Nagar 1st Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current rate incurs a stamp duty of Rs 1,12,000.

What is the land classification for Dr. Ambedkar Nagar 1st Cross Street?

Dr. Ambedkar Nagar 1st Cross Street is classified as Residential Class V Type - I, indicating its use for residential purposes.