Guideline Value for DR.AMBEDKAR STREET

Dr.Ambedkar Street guideline value

The current guideline value of Dr.Ambedkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Dr.Ambedkar Street has changed

Over the years, the guideline value of Dr.Ambedkar Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, this figure was increased to Rs 3,000 per sq.ft in the 2023 revision, and the most recent revision in 2024 has raised it further to Rs 3,300 per sq.ft. The changes from 2012 to 2024 reflect an overall increase of 10%.

In terms of specific changes, the guideline value rose by 49% from 2017 to 2023, and then increased by 10% from 2023 to 2024. It is important to note that the register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Dr.Ambedkar Street.

• Dr.ABDUL KALAM STREET: Rs 3,850 per sq.ft (2024)
• Doctor Colony: Rs 2,750 per sq.ft (2024)
• Dr.Solaman Street: Rs 3,520 per sq.ft (2024)
• Duraikannu Road: Rs 3,300 per sq.ft (2024)
• Duraipakkam Pallavaram Link Road (200 Feet Road): Rs 4,400 per sq.ft (2024)
• Dhidir Nagar: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Dr.Ambedkar Street?

The Sub Registrar Office covering Dr.Ambedkar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is used by the government for taxation purposes. Buyers and sellers should be aware of the current guideline value to accurately estimate their costs during the registration process.

Frequently asked questions

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

The current guideline value of Dr.Ambedkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was previously Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Dr.Ambedkar Street?

Dr.Ambedkar Street is classified as Residential Class I Type - II, indicating its designation for residential purposes.

Where can I find the registration office for Dr.Ambedkar Street?

The registration office for Dr.Ambedkar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Dr.Ambedkar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,31,000 based on the guideline value.