Guideline Value for DR.AMBEDKAR NAGAR "VALLUVAR STREET"

Dr.Ambedkar Nagar "valluvar Street" guideline value

The current guideline value for Dr.Ambedkar Nagar "valluvar 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 "valluvar Street" has changed

Over the years, the guideline value for Dr.Ambedkar Nagar "valluvar Street" has seen significant changes. The 2007 revision recorded a guideline value of Rs 530 per sq.ft, which increased to Rs 2,300 per sq.ft in 2012, marking a substantial increase of 334%. However, the value dipped to Rs 1,541 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 2,300 per sq.ft, which then rose to Rs 2,500 per sq.ft in the 2024 revision, reflecting a 9% increase.

From the 2017 revision to the 2023 revision, the value saw a significant increase of 49%. 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 revisions in 2002 and 2003 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. Dr.Ambedkar Nagar "valluvar Street" has a guideline value below this median.

• Dr.Ambedkar Nagar "nethaji Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "koil Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "vivekananda Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "kannadhasan Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "v.O.C.Street": Rs 2,500 per sq.ft (2024)
• Dr.Ambedkar Nagar "kambar Street": Rs 2,500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty, charged at 7%, would be Rs 1,75,000, while 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 further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Dr.Ambedkar Nagar "valluvar 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 is a crucial factor in property transactions in Padi. It serves as a benchmark for determining the minimum price at which a property can be sold or bought, ensuring that the registration process is transparent and standardized.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value for Dr.Ambedkar Nagar "valluvar 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 from Rs 530 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, representing an overall increase of 372% over the years.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 25,00,000, the total fees would amount to Rs 2,25,000.

Which office handles property registration for Dr.Ambedkar Nagar "valluvar Street"?

The Villivakkam Sub Registrar Office handles property registration for Dr.Ambedkar Nagar "valluvar Street". It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Dr.Ambedkar Nagar "valluvar Street"?

Dr.Ambedkar Nagar "valluvar Street" is classified as Residential Class V Type - I, indicating its designation for residential use.