Guideline Value

Corporate

Guideline Value for DR. AMBETHKAR NAGAR

₹2200/sq.ft.

The guideline value for Dr. Ambethkar Nagar in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹268 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹231 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Dr. Ambethkar Nagar

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Dr. Ambethkar Nagar guideline value

The current guideline value of Dr. Ambethkar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Dr. Ambethkar Nagar has changed

The guideline value for Dr. Ambethkar Nagar has seen significant changes over the years. Starting from Rs 231 per sq.ft in 2002, it increased to Rs 268 per sq.ft in 2003. The value then rose dramatically to Rs 900 per sq.ft in 2007, followed by a further increase to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and most recently, it has risen to Rs 2,200 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 16%; from 2003 to 2007, it rose by 236%; from 2007 to 2012, it decreased by 33%; from 2012 to 2017, it increased by 49%; and from 2017 to 2023, it increased by 49% again. The most recent change from 2023 to 2024 is an increase of 10%. Overall, from 2002 to 2024, the guideline value has increased by 852%.

Guideline values in Medavakkam

In Medavakkam village, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Dr. Ambethkar Nagar.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambethkar Nagar?

The Sub Registrar Office covering Dr. Ambethkar Nagar 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 Medavakkam

The guideline value plays a crucial role in the registration process of property transactions in Medavakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area. The buyer must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is considered the baseline for calculating the applicable fees. Buyers should be prepared to pay the higher amount between the guideline value and the actual sale price, as the duty is charged on whichever is greater.

Frequently asked questions

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

The current guideline value of Dr. Ambethkar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 231 per sq.ft in 2002 and reaching Rs 2,200 per sq.ft in 2024, marking an overall increase of 852% from 2002 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Dr. Ambethkar Nagar?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. Buyers must pay the higher amount between the guideline value and the actual sale price when registering a property.