Guideline Value for Doctor Ambethkar Street

Doctor Ambethkar Street guideline value

The current guideline value of Doctor Ambethkar Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Doctor Ambethkar Street has changed

Over the years, the guideline value for Doctor Ambethkar Street has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 700 per sq.ft. The 2017 revision marked a significant increase to Rs 469 per sq.ft, representing a decrease of 33% from 2012. However, from 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 700 per sq.ft.

The most recent revision in 2024 has maintained the guideline value at Rs 700 per sq.ft, indicating a 0% change from the previous year. It is worth noting that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Molachoor

In Molachoor, a total of 112 streets under the Sunguvarchattram SRO have a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, positioning Doctor Ambethkar Street above this median with its current value of Rs 700 per sq.ft.

• Domnic Nagar: Rs 605 per sq.ft (2024)
• Dream Land Nagar: Rs 605 per sq.ft (2024)
• Darga Street: Rs 600 per sq.ft (2024)
• Elango Street: Rs 600 per sq.ft (2024)
• Eswar Avenue: Rs 605 per sq.ft (2024)
• ETR Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Doctor Ambethkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost for these fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Doctor Ambethkar Street?

The Sub Registrar Office that covers Doctor Ambethkar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, 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 Molachoor

The guideline value is a crucial factor when registering property transactions in Molachoor. It serves as a benchmark for determining the minimum value at which a property can be sold or bought. This value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to accurately assess their financial obligations during the sale.

Frequently asked questions

What is the current guideline value of Doctor Ambethkar Street?

The current guideline value of Doctor Ambethkar Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since 2012, with a significant increase of 49% from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the land classification for Doctor Ambethkar Street?

Doctor Ambethkar Street is classified as Residential Special Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Doctor Ambethkar Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Doctor Ambethkar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000.