Guideline Value for Dr.Ambethkar Street

Dr.Ambethkar Street guideline value

The current guideline value of Dr.Ambethkar Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Kanagam village under the Adayar SRO, classified as Residential Class III Type - I.

How the guideline value of Dr.Ambethkar Street has changed

Over the years, the guideline value of Dr.Ambethkar Street has seen several revisions. The register shows the following figures: in 2002, the value was Rs 165 per sq.ft; in 2003, it increased to Rs 425 per sq.ft; followed by Rs 1,610 per sq.ft in 2007; then it rose to Rs 2,500 per sq.ft in 2012. The value dropped to Rs 1,675 per sq.ft in 2017, before increasing to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,800 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2024, the overall increase is +1597%. Specifically, from 2017 to 2023, the value increased by +49%, and from 2023 to 2024, there was a rise of +12%. Other changes include a decrease of -33% from 2012 to 2017 and an increase of +55% from 2007 to 2012. The register has no figures for the years not mentioned in this summary.

Guideline values in Kanagam

In Kanagam village, there are 15 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 13,800 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is equal to the guideline value of Dr.Ambethkar Street.

• Gandhi Street: Rs 2,800 per sq.ft (2024)
• Canal Bank Road O.M.R from Madhya Kailash: Rs 13,800 per sq.ft (2024)
• Bharathiyar Street: Rs 2,800 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,800 per sq.ft (2024)
• Anna Street: Rs 3,300 per sq.ft (2024)
• Kanagam Road: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Ambethkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total charges Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Dr.Ambethkar Street?

The Sub Registrar Office that covers Dr.Ambethkar Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kanagam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Dr.Ambethkar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 165 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1597% over the years.

What are the stamp duty and registration fees for property in Dr.Ambethkar Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Dr.Ambethkar Street?

The Adayar Sub Registrar Office covers Dr.Ambethkar Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification of Dr.Ambethkar Street?

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