Guideline Value for Dr.Ambedkar Street

Dr.Ambedkar Street guideline value

The current guideline value of Dr.Ambedkar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Dr.Ambedkar Street has changed

The guideline value for Dr.Ambedkar Street has seen significant changes over the years. In 2003, the guideline value was Rs 294 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,340 per sq.ft in 2017, marking an increase of 283%. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 saw it rise to Rs 2,200 per sq.ft, a change of 10%.

There are no figures available for the years 2002 and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 648%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. Dr.Ambedkar Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

• Doctors Colony: Rs 2,420 per sq.ft (2024)
• Dr.Solman Colony: Rs 2,420 per sq.ft (2024)
• Dr.Soundarammal Street: Rs 2,420 per sq.ft (2024)
• Duraiamman Koil Street: Rs 2,200 per sq.ft (2024)
• Durgai Amman Street: Rs 2,200 per sq.ft (2024)
• Durga Nagar: Rs 2,420 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 2,200 per sq.ft, the guideline value totals Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% is Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our 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 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 Thiruneermalai

The guideline value plays a crucial role during the registration of property transactions in Thiruneermalai. 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 buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, making it essential to understand the current guideline values in the area.

Frequently asked questions

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

The current guideline value of Dr.Ambedkar Street is Rs 2,200 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 294 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 648% over the years.

What is the land classification for Dr.Ambedkar Street?

Dr.Ambedkar Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Dr.Ambedkar Street?

The Sub Registrar Office for Dr.Ambedkar Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Thiruneermalai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.