Guideline Value for DR. AMBEDKAR STREET

Dr. Ambedkar Street guideline value

The current guideline value of Dr. Ambedkar Street is Rs 4,700 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO and is classified as Residential Class IV Type - I.

How the guideline value of Dr. Ambedkar Street has changed

Starting from the 2007 revision, the guideline value for Dr. Ambedkar Street was Rs 1,050 per sq.ft. It increased significantly to Rs 4,300 per sq.ft in the 2012 revision, marking a 310% rise. However, in the 2017 revision, the value decreased to Rs 2,881 per sq.ft, reflecting a 33% decline. The value then rose to Rs 4,300 per sq.ft in the 2023 revision, a 49% increase, and finally, it reached Rs 4,700 per sq.ft in the 2024 revision, representing a 9% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 348%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value of Dr. Ambedkar Street is below this median.

• Dr. Mu.Va.Road: Rs 6,000 per sq.ft (2024)
• Dr. Radhakrishnan Salai: Rs 3,300 per sq.ft (2024)
• Duraswamy Colony: Rs 6,000 per sq.ft (2024)
• Duraswamy Raja Street: Rs 5,500 per sq.ft (2024)
• Durga Street: Rs 5,500 per sq.ft (2024)
• Deivasigamani Street: Rs 3,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,700 per sq.ft, the total guideline value would be Rs 47,00,000. The stamp duty at 7% would amount to Rs 3,29,000, and the registration fee at 2% would be Rs 94,000, totaling Rs 4,23,000. Duty is charged on 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 Street?

The Sub Registrar Office covering Dr. Ambedkar Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is used as a basis for calculating stamp duty and registration fees when buying or selling property in Arumbakkam. It ensures that the transaction is registered at a value that reflects the prevailing market conditions as determined by the government.

When a property is sold, the buyer must pay stamp duty on the higher of the guideline value or the sale price. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

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

The current guideline value of Dr. Ambedkar Street is Rs 4,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,050 per sq.ft in 2007 to Rs 4,700 per sq.ft in 2024, which is an overall increase of 348%.

What is the land classification for Dr. Ambedkar Street?

Dr. Ambedkar Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 4,23,000 in fees.

Where can I find the Sub Registrar Office for Dr. Ambedkar Street?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles all registrations for properties in the area.