Guideline Value for DR. AMBETHKAR STREET

Dr. Ambethkar Street guideline value

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

How the guideline value of Dr. Ambethkar Street has changed

The guideline value for Dr. Ambethkar 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. The value saw a significant rise to Rs 400 per sq.ft in 2007, followed by a further increase to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +18%; from 2003 to 2007, it rose by +217%; from 2007 to 2012, it decreased by -33%; from 2012 to 2017, it dropped again by -33%; then, from 2017 to 2023, it increased by +49%; and finally, from 2023 to 2024, it rose by +10%. Overall, from 2002 to 2024, the guideline value has increased by +1134%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which means that the 2024 guideline value for Dr. Ambethkar Street is below this median.

• Dr. Ambethkar Cross 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the 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, totaling Rs 1,18,800. It is important to note that the 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. Ambethkar Street?

The Sub Registrar Office that covers Dr. Ambethkar 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 more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Pallikaranai. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Dr. Ambethkar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value for Dr. Ambethkar Street has changed from Rs 107 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of +1134%.

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

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

What is the land classification for Dr. Ambethkar Street?

Dr. Ambethkar Street is classified as Residential Class IV Type - II, indicating its suitability for residential development.