Guideline Value for Dr. Ambedkar 2nd Street

Dr. Ambedkar 2nd Street guideline value

The current guideline value of Dr. Ambedkar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Dr. Ambedkar 2nd Street has changed

Looking at the revisions, the guideline value for Dr. Ambedkar 2nd Street was Rs 1,675 per sq.ft in 2017, which increased to Rs 2,500 per sq.ft in 2012. However, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. The value then saw an increase to Rs 2,500 per sq.ft in 2023 and further to Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, the value rose significantly by 49%. Notably, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value of Dr. Ambedkar 2nd Street.

• Dr. Ambedkar 1st Street: Rs 2,700 per sq.ft (2024)
• Dr. Ambedkar Lane: Rs 1,900 per sq.ft (2024)
• Dr. Ambedkar Main Road: Rs 2,700 per sq.ft (2024)
• D.R. Ambethkar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Dr. Anna Salai: Rs 2,200 per sq.ft (2024)
• Dr. Karunanethi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar 2nd Street?

The Sub Registrar Office that covers Dr. Ambedkar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees.

When a property is sold, the sale price is compared to the guideline value, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 2nd Street?

The current guideline value of Dr. Ambedkar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and now Rs 2,700 per sq.ft in 2024.

What is the land classification for Dr. Ambedkar 2nd Street?

Dr. Ambedkar 2nd Street is classified as Residential Class I Type - I.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Dr. Ambedkar 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, the total stamp duty for a 1,000 sq.ft plot at the current guideline value is Rs 1,89,000.