Guideline Value for Dr. Ambedkar Salai

Dr. Ambedkar Salai guideline value

The current guideline value of Dr. Ambedkar Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Mixed Type - I land.

How the guideline value of Dr. Ambedkar Salai has changed

Over the years, the guideline value of Dr. Ambedkar Salai has seen significant changes. The earliest recorded revision was in 2007, with a guideline value of Rs 1,460 per sq.ft. This increased to Rs 5,360 per sq.ft in 2017, marking a rise of 267%. In 2023, the value further increased to Rs 8,000 per sq.ft, showing a 49% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 8,800 per sq.ft, reflecting a 10% increase from 2023.

The register has no figures for the years 2002, 2003, and 2012. Overall, from 2007 to 2024, the guideline value has increased by 503%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Dr. Ambedkar Salai's 2024 figure above that median.

• Dr. Govindan Salai: Rs 7,700 per sq.ft (2024)
• Dr. Kalaingnar Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Dr. Kannu Nagar 10th Kamarajar Street: Rs 2,200 per sq.ft (2024)
• Dr. Kannu Nagar Main road (N.P): Rs 3,300 per sq.ft (2024)
• Dr. Kannu Nagar N.S.C. Bose Street: Rs 2,200 per sq.ft (2024)
• Dr. Lakshmanasamy Salai: Rs 8,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. 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 details.

Which Sub Registrar Office covers Dr. Ambedkar Salai?

The Sub Registrar Office that covers Dr. Ambedkar Salai is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid. Buyers should be aware that the guideline value is the minimum value recognized by the government for property transactions.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two amounts will be used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is in compliance with legal requirements.

Frequently asked questions

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

The current guideline value of Dr. Ambedkar Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,460 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, representing an overall increase of 503%.

What is the land classification of Dr. Ambedkar Salai?

Dr. Ambedkar Salai is classified as Mixed Type - I land according to the registration records.

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.