Guideline Value for Dr. Ambedkar Street

Dr. Ambedkar Street guideline value

The current guideline value of Dr. Ambedkar Street in Parangimalai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Dr. Ambedkar Street has changed

Dr. Ambedkar Street has seen several revisions in its guideline value over the years. The earliest recorded value in the register is from 2002, which was Rs 236 per sq.ft. This figure increased to Rs 320 per sq.ft in 2003, marking a change of +36%. The subsequent revision in 2007 brought a significant increase to Rs 750 per sq.ft, reflecting a change of +134%. In 2012, the value rose to Rs 2,500 per sq.ft, an increase of +233%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, showing a decline of -33%. The guideline value then increased to Rs 2,500 per sq.ft in 2023, followed by a final increase to the current value of Rs 2,750 per sq.ft in 2024, which is a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1065%. The register does not contain figures for any other years apart from those listed above.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that Dr. Ambedkar Street's 2024 figure is below the median.

• Diary Farm Road: Rs 3,850 per sq.ft (2024)
• East Chetty Street: Rs 3,300 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 3,850 per sq.ft (2024)
• East Parade Street: Rs 3,300 per sq.ft (2024)
• East Raja Street: Rs 3,300 per sq.ft (2024)
• East Silver Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty is charged at 7%, totaling Rs 1,92,500, and the registration fee is 2%, amounting to Rs 55,000. Together, these fees amount to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar Street?

The Sub Registrar Office covering Dr. Ambedkar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the total cost of the transaction.

Frequently asked questions

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

The current guideline value of Dr. Ambedkar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 236 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +1065% over the years.

What is the median guideline value in Parangimalai?

The median guideline value for the 233 streets in Parangimalai is Rs 3,850 per sq.ft, with Dr. Ambedkar Street's 2024 value being below this median.

What are the stamp duty and registration fees for properties in Dr. Ambedkar Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Dr. Ambedkar Street located?

The Sub Registrar Office for Dr. Ambedkar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.