Guideline Value for Dr. Ambedkar 3rd Cross Street

Dr. Ambedkar 3rd Cross Street guideline value

The current guideline value of Dr. Ambedkar 3rd 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 3rd Cross Street has changed

The guideline value for Dr. Ambedkar 3rd Cross Street has undergone 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, marking a change of 17%. The value then rose to Rs 935 per sq.ft in 2007, which was a 39% increase. Following this, in 2017, the guideline value reached Rs 1,005 per sq.ft, reflecting a 7% change. The most significant jump occurred between 2017 and 2023, where the value escalated to Rs 1,500 per sq.ft, a 49% increase. The latest revision in 2024 set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year. It is important to note that the register has no figure for this street in 2012.

Guideline values in Meenambakkam

Within 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, indicating that the guideline value of Dr. Ambedkar 3rd Cross Street is below this median.

• Dr. Ambedkar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar 1st 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 3rd 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 amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar 3rd Cross Street?

The Sub Registrar Office that covers Dr. Ambedkar 3rd Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Meenambakkam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation set by the state.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the appropriate revenue from property transactions, reflecting the official market value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 3rd Cross Street?

The current guideline value of Dr. Ambedkar 3rd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which other streets in Meenambakkam have the same guideline value?

Other streets in Meenambakkam that share the same guideline value of Rs 1,650 per sq.ft include Dr. Ambedkar 2nd Cross Street, Dr. Ambedkar 1st Cross Street, and Dr. Ambedkar Street.

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

The Sub Registrar Office for Dr. Ambedkar 3rd Cross Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.