Guideline Value for DR.AMBEDKAR NAGAR "KOIL STREET"

Dr.Ambedkar Nagar "koil Street" guideline value

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

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

The guideline value for Dr.Ambedkar Nagar "koil Street" has seen significant changes over the years. The oldest recorded revision is from 2007, where the value was Rs 530 per sq.ft. This figure increased dramatically to Rs 2,300 per sq.ft in 2012, marking a substantial rise of 334%. However, there was a decrease to Rs 1,541 per sq.ft in 2017, a drop of 33%. The value then increased again to Rs 2,300 per sq.ft in 2023, followed by the current rate of Rs 2,500 per sq.ft from the 2024 revision, reflecting an increase of 9% from the previous year.

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

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median value for these streets is Rs 3,800 per sq.ft, which means that the guideline value for Dr.Ambedkar Nagar "koil Street" is below this median.

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

Stamp duty and registration fee for property in Dr.Ambedkar Nagar "koil 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, bringing the total fees to 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 information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Dr.Ambedkar Nagar "koil Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Padi. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that all property transactions are fairly assessed for taxation purposes.

Frequently asked questions

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

The current guideline value for Dr.Ambedkar Nagar "koil 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 changed significantly, starting 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 are the other streets in Padi with the same guideline value?

Other streets in Padi that share the same guideline value of Rs 2,500 per sq.ft as of 2024 include Dr.Ambedkar Nagar "kannadhasan Street", "nethaji Street", "kambar Street", "valluvar Street", "bharathi Street", and "anbu Street".

What is the stamp duty rate for properties in Dr.Ambedkar Nagar "koil Street"?

The stamp duty rate for properties in Dr.Ambedkar Nagar "koil Street" is 7% of the guideline value or the sale price, whichever is higher.

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

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