Guideline Value for DR. AMBEDKAR NAGAR 1ST STREET

Dr. Ambedkar Nagar 1st Street guideline value

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

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

The guideline value for Dr. Ambedkar Nagar 1st Street has undergone several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the guideline value saw a substantial increase of 49%, reaching Rs 1,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 1,600 per sq.ft, a 7% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Guideline values in Perambur

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

• Dr. Ambedkar Nagar 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be 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 our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 1st Street?

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

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

The guideline value is a crucial factor in the registration process for property transactions. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and helps prevent undervaluation during transactions.

Frequently asked questions

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

The current guideline value for Dr. Ambedkar Nagar 1st 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 significantly from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 220% over the years.

What is the stamp duty rate for properties in Dr. Ambedkar Nagar 1st Street?

The stamp duty rate for properties in Dr. Ambedkar Nagar 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Dr. Ambedkar Nagar 1st Street located?

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

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

Dr. Ambedkar Nagar 1st Street is classified as Residential Class V Type - I.