Guideline Value for Dr.Ambedkar Nagar

Dr.Ambedkar Nagar guideline value

The current guideline value of Dr.Ambedkar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Vepery village under the Periamet Sub Registrar Office (SRO) and is classified as Residential Class IV Type - I.

How the guideline value of Dr.Ambedkar Nagar has changed

Over the years, the guideline value of Dr.Ambedkar Nagar has seen significant changes. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 317%. However, from 2012 to 2017, there was a decrease to Rs 1,675 per sq.ft, a drop of 33%. The value then rose sharply to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 350%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median of Rs 4,800 per sq.ft. The guideline value for Dr.Ambedkar Nagar is below this median.

• Dr.Ansari 1st Lane: Rs 2,700 per sq.ft (2024)
• Dr.Ansari 2nd lane: Rs 2,700 per sq.ft (2024)
• Dilip Nagar: Rs 2,700 per sq.ft (2024)
• Dr.Ansari KanagarajaThottam: Rs 2,700 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 3,300 per sq.ft (2024)
• Ekambara Kumaragurusamy Street: Rs 13,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 further calculations.

Which Sub Registrar Office covers Dr.Ambedkar Nagar?

The Sub Registrar Office that covers Dr.Ambedkar Nagar is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Vepery. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable at the time of sale.

When buying or selling a property, the guideline value serves as a benchmark for the transaction price. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of Dr.Ambedkar Nagar is Rs 2,700 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 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

What are the stamp duty and registration fees for property in Dr.Ambedkar Nagar?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations in Dr.Ambedkar Nagar?

The Periamet Sub Registrar Office handles property registrations in Dr.Ambedkar Nagar, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the significance of the guideline value in property transactions?

The guideline value is used as a benchmark for property transactions, determining the minimum registration value and affecting the stamp duty and registration fees payable during the sale.