Guideline Value for DR.AMBEDKAR NAGAR "BHARATHI STREET"

Dr.Ambedkar Nagar "bharathi Street" guideline value

The current guideline value for Dr.Ambedkar Nagar "bharathi Street" is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Dr.Ambedkar Nagar "bharathi Street" has changed

The guideline value for Dr.Ambedkar Nagar "bharathi Street" has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 530 per sq.ft. This increased significantly to Rs 2,300 per sq.ft in 2012, marking a 334% rise. However, by 2017, the value decreased to Rs 1,541 per sq.ft, a decline of 33%. The next revision in 2023 set the value at Rs 2,300 per sq.ft, followed by the latest revision in 2024, which increased it to Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 372%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, placing Dr.Ambedkar Nagar "bharathi Street" below this median.

• Dr.Ambedkar Nagar "anbu Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "kambar Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "kannadhasan Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "koil Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "nethaji Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "valluvar Street": Rs 2,500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total cost for these fees Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr.Ambedkar Nagar "bharathi Street"?

The Sub Registrar Office that covers Dr.Ambedkar Nagar "bharathi Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure that they are compliant with the legal requirements during property transactions.

When registering a property, the guideline value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions, and it helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value for Dr.Ambedkar Nagar "bharathi Street"?

The current guideline value for Dr.Ambedkar Nagar "bharathi Street" is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 530 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 372% over the years.

What is the land classification for this street?

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

What are the other streets in Padi with the same guideline value?

Other streets in Padi under the Villivakkam SRO also have a guideline value of Rs 2,500 per sq.ft for 2024, including "anbu Street," "kambar Street," "kannadhasan Street," "koil Street," "nethaji Street," and "valluvar Street."

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

The Sub Registrar Office for Dr.Ambedkar Nagar "bharathi Street" is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, under the Villivakkam registration zone.