Guideline Value for DR. AMBETHKAR CROSS STREET

Dr. Ambethkar Cross Street guideline value

The current guideline value for Dr. Ambethkar Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO, classified as Residential Class IV Type - II.

How the guideline value of Dr. Ambethkar Cross Street has changed

The guideline value for Dr. Ambethkar Cross Street has undergone several revisions over the years. In 2002, the value was Rs 107 per sq.ft, which increased to Rs 126 per sq.ft in 2003, marking an increase of 18%. The value saw a significant rise to Rs 400 per sq.ft in 2007, an increase of 217%. By 2012, the value further increased to Rs 1,200 per sq.ft, reflecting a 200% rise from the previous revision. However, in 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, representing an increase of 64% from 2017.

It is important to note that there is no figure for this street in the 2023 revision.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Dr. Ambethkar Cross Street's 2024 figure below that median.

• Dr. Ambethkar Street: Rs 1,320 per sq.ft (2024)
• Dilli Babu Nagar: Rs 1,320 per sq.ft (2024)
• Dharmalingam Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Dharmalingam Nagar: Rs 1,320 per sq.ft (2024)
• Dhanm Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Dhanm Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambethkar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambethkar Cross Street?

The Sub Registrar Office that covers Dr. Ambethkar Cross Street is the Chennai South Joint I 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer and seller must consider the guideline value for calculating the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value for Dr. Ambethkar Cross Street?

The current guideline value for Dr. Ambethkar Cross Street is Rs 1,320 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 107 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1,134% over the years.

What is the median guideline value for streets in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current value of Dr. Ambethkar Cross Street.

What are the stamp duty and registration fees for properties in Dr. Ambethkar Cross Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for Dr. Ambethkar Cross Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Dr. Ambethkar Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.