Guideline Value for Hospital Road

Hospital Road guideline value

The current guideline value of Hospital Road is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village under the Ambattur SRO, classified as Residential Class III Type - II.

How the guideline value of Hospital Road has changed

The guideline value for Hospital Road has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,300 per sq.ft. This figure decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the following revisions, rising to Rs 2,300 per sq.ft in 2023 and then to Rs 2,500 per sq.ft in 2024, which is a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value for these streets is Rs 3,600 per sq.ft, placing Hospital Road's 2024 figure below that median.

• Ibrahim Street: Rs 2,500 per sq.ft (2024)
• ICF Colony: Rs 3,600 per sq.ft (2024)
• Hi Living Pristine: Rs 6,500 per sq.ft (2024)
• High school Road: Rs 6,600 per sq.ft (2024)
• Indian Bank Colony 1st Avenue: Rs 4,000 per sq.ft (2024)
• Indian Bank Colony 1st Cross Street: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Hospital Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total cost Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Hospital Road?

The Sub Registrar Office covering Hospital Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO online.

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

The guideline value is a crucial factor in property transactions in Ambattur, as it determines the amount of stamp duty and registration fees that need to be paid. When buying or selling property, the guideline value is used to calculate these costs, ensuring that they are aligned with the current market standards.

Additionally, the guideline value is referenced during the registration process, providing a benchmark for property valuation. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Hospital Road?

The current guideline value of Hospital Road is Rs 2,500 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 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increasing to Rs 2,300 per sq.ft in 2023 and Rs 2,500 per sq.ft in 2024.

What is the land classification of Hospital Road?

Hospital Road is classified as Residential Class III Type - II under the Ambattur SRO.

Where is the Sub Registrar Office for Hospital Road located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties on Hospital Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 1,75,000.