Guideline Value for Dr. Ambedkar Street

Dr. Ambedkar Street guideline value

The current guideline value of Dr. Ambedkar Street in Meenambakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class IV Type - I.

How the guideline value of Dr. Ambedkar Street has changed

Over the years, the guideline value of Dr. Ambedkar Street has seen significant changes. In 2002, the guideline value was Rs 578 per sq.ft, which increased to Rs 675 per sq.ft in 2003, marking a 17% rise. The value then rose to Rs 935 per sq.ft in 2007, reflecting a 39% increase. By 2017, the guideline value reached Rs 1,005 per sq.ft, a 7% increase from the previous revision. The 2023 revision saw a substantial jump to Rs 1,500 per sq.ft, which was a 49% increase from 2017. Finally, the latest revision in 2024 set the guideline value at Rs 1,650 per sq.ft, a 10% increase from 2023.

It is important to note that the register has no figure for this street for the year 2012. Overall, from 2002 to 2024, the guideline value has increased by 185%.

Guideline values in Meenambakkam

In 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 guideline value for these streets is Rs 3,850 per sq.ft, placing Dr. Ambedkar Street's 2024 figure below that median.

• Dr. Ambedkar 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Dr. Ambedkar Street?

The Sub Registrar Office that covers Dr. Ambedkar 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 a crucial factor when buying or selling property in Meenambakkam, as it determines the minimum value at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value helps in determining the applicable taxes and fees. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, ensuring transparency in property transactions.

Frequently asked questions

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

The current guideline value of Dr. Ambedkar 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 changed from Rs 578 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 185% over this period.

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

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 Sub Registrar Office covers Dr. Ambedkar Street?

The Pammal Sub Registrar Office covers Dr. Ambedkar Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Dr. Ambedkar Street?

Dr. Ambedkar Street is classified as Residential Class IV Type - I.