Guideline Value for Dr. Ambedkar 1st Cross Street

Dr. Ambedkar 1st Cross Street guideline value

The current guideline value of Dr. Ambedkar 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Meenambakkam village and falls under the Pammal SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Dr. Ambedkar 1st Cross Street has changed

The guideline value for Dr. Ambedkar 1st Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 578 per sq.ft. This increased to Rs 675 per sq.ft in 2003, showing a change of 17%. The value continued to rise, reaching Rs 935 per sq.ft in 2007, which was a 39% increase from the previous revision. By 2017, the guideline value had further increased to Rs 1,005 per sq.ft, a 7% rise from 2007. The 2023 revision set the value at Rs 1,500 per sq.ft, marking a significant 49% increase from 2017. The most recent revision in 2024 has set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is worth noting that the register has no figure for this street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 185%.

Guideline values in Meenambakkam

In Meenambakkam, there are 17 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Dr. Ambedkar 1st Cross Street's 2024 figure below that median.

• Dr. Ambedkar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 1,650 per sq.ft (2024)
• E.V.R. Street: Rs 4,400 per sq.ft (2024)
• Bharathi Street: Rs 3,850 per sq.ft (2024)
• G.S.T. Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, leading to a total of Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Dr. Ambedkar 1st Cross Street?

The Sub Registrar Office that covers Dr. Ambedkar 1st Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Meenambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 1st Cross Street?

The current guideline value of Dr. Ambedkar 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 578 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 185% over this period.

What is the median guideline value for streets in Meenambakkam?

The median guideline value for streets in Meenambakkam is Rs 3,850 per sq.ft, with Dr. Ambedkar 1st Cross Street's current value being below this median.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, leading to a total of Rs 1,48,500.

Which office handles the registration of properties on Dr. Ambedkar 1st Cross Street?

The Pammal Sub Registrar Office handles the registration of properties on Dr. Ambedkar 1st Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.