Guideline Value for Dr. Ambedkar Street / Road

Dr. Ambedkar Street / Road guideline value

The current guideline value for Dr. Ambedkar Street / Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of Dr. Ambedkar Street / Road has changed

The guideline value for Dr. Ambedkar Street / Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in 2017. The value increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Dr. Ambedkar Street / Road's 2024 figure below this median.

• Dr. Radhakrishnan Road: Rs 3,300 per sq.ft (2024)
• Easwari Street: Rs 2,200 per sq.ft (2024)
• Elango Street: Rs 3,000 per sq.ft (2024)
• Erukancherry High Road: Rs 3,800 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,500 per sq.ft (2024)
• Eswari Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Street / Road

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar Street / Road?

The Madhavaram Sub Registrar Office covers Dr. Ambedkar Street / Road, 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 Erukancherry

The guideline value plays a crucial role during property registration in Erukancherry. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is considered the minimum value for calculating taxes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Street / Road?

The current guideline value for Dr. Ambedkar Street / Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the median guideline value for streets in Erukancherry?

The median guideline value for streets in Erukancherry is Rs 2,500 per sq.ft, while Dr. Ambedkar Street / Road's 2024 value is below this median.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in this area is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Dr. Ambedkar Street / Road?

The Madhavaram Sub Registrar Office, which covers Dr. Ambedkar Street / Road, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.