Guideline Value for Dr. Ambedkar Street

Dr. Ambedkar Street guideline value

The current guideline value of Dr. Ambedkar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nanmangalam village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Dr. Ambedkar Street has changed

The guideline value for Dr. Ambedkar Street has undergone several revisions over the years. In 2003, the value was Rs 160 per sq.ft, which increased significantly to Rs 758 per sq.ft in 2007, marking a change of +374%. The value then rose to Rs 2,500 per sq.ft in 2012, representing an increase of +230%. However, it saw a decrease to Rs 1,675 per sq.ft in 2017, a change of -33%. The value increased again to Rs 2,500 per sq.ft in 2023, with a notable rise of +49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a +10% increase from the previous year.

The register does not provide a figure for the year 2002 for this street.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the guideline value of Dr. Ambedkar Street.

• Durga Nagar: Rs 1,980 per sq.ft (2024)
• Durga Nagar 1 To 4 Street: Rs 1,980 per sq.ft (2024)
• Elango Street: Rs 1,960 per sq.ft (2024)
• Elumalai Salai: Rs 2,750 per sq.ft (2024)
• Elumalai Salai 1 To 7 Streets: Rs 2,750 per sq.ft (2024)
• Cromepet Nanmangalam Road: Rs 2,750 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 guideline value of Rs 2,750 per sq.ft, the total guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar Street?

The Sub Registrar Office that covers Dr. Ambedkar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, within the Chengalpattu registration zone. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value is referenced to assess the applicable stamp duty and registration fees. Buyers should be aware that these costs are calculated based on the higher of the guideline value or the sale price, which can impact the overall financial commitment involved in 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 160 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, with various increases and one decrease along the way.

What is the registration fee for property in Dr. Ambedkar Street?

The registration fee is 2% of the guideline value or sale price, whichever is higher. For a property valued at Rs 27,50,000, the registration fee would be Rs 55,000.

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

The Sub Registrar Office for Dr. Ambedkar Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value determined for properties in Nanmangalam?

The guideline value is determined based on various factors, including land classification and historical revisions. It serves as a standard for property registration and taxation within the region.