Guideline Value for DR. AMBEDKAR NAGAR

Dr. Ambedkar Nagar guideline value

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

How the guideline value of Dr. Ambedkar Nagar has changed

The guideline value for Dr. Ambedkar Nagar has undergone several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. The value saw a significant rise to Rs 500 per sq.ft in 2007, followed by a jump to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017, before increasing again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft.

Examining the changes between these revisions, from 2002 to 2003, there was a 10% increase. The value rose by 36% from 2003 to 2007. A substantial increase of 200% occurred from 2007 to 2012. The value decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 7% increase. Overall, from 2002 to 2024, the guideline value has increased by 376%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry 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. The guideline value for Dr. Ambedkar Nagar is below this median.

• Dr. Ambedkar Nagar 1st Cross Street: Rs 1,600 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar

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 charges to Rs 1,44,000. It is important to note that the duty is charged on either the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar Nagar?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 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 plays a crucial role during the registration process of property transactions. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value is set by the Registration Department and is periodically revised to reflect changes in the market.

When registering a property, buyers and sellers must ensure that the transaction value is at least equal to the guideline value. This ensures that the appropriate taxes are collected and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar?

The current guideline value of Dr. Ambedkar Nagar 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 336 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 376% over the years.

What is the land classification for Dr. Ambedkar Nagar?

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

What are the stamp duty and registration fees for properties in Dr. Ambedkar Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

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

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.