Guideline Value for Dr.Ambedkar Street

Dr.Ambedkar Street guideline value

The current guideline value of Dr.Ambedkar Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Dr.Ambedkar Street has changed

The guideline value for Dr.Ambedkar Street has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to the current value of Rs 1,700 per sq.ft in 2024, marking a 13% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Dr.Ambedkar Street's 2024 figure below this median.

• East Coast Road (New Mahabalipuram Road): Rs 8,300 per sq.ft (2024)
• Electronic & Electrical Industrial Develop Plot Estate: Rs 6,400 per sq.ft (2024)
• Ellaiamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 4th Cross Street: Rs 2,200 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000. Together, these fees would total Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr.Ambedkar Street?

The Sub Registrar Office that covers Dr.Ambedkar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Neelankarai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties involved in the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Dr.Ambedkar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Dr.Ambedkar Street?

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

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Dr.Ambedkar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 17,00,000, resulting in a stamp duty of Rs 1,19,000.