Guideline Value for Ibrahim Street

Ibrahim Street guideline value

The current guideline value of Ibrahim Street, located in Ambattur village under the Ambattur SRO, is Rs 2,500 per sq.ft as per the 2024 revision, which is effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Ibrahim Street has changed

The guideline value for Ibrahim Street has undergone several revisions over the years. The earliest available figure is from 2012, when it was set at Rs 2,300 per sq.ft. In 2017, this value decreased to Rs 1,541 per sq.ft, reflecting a decline of 33%. However, the value saw a significant increase in the following years, rising to Rs 2,300 per sq.ft in 2023, and then to Rs 2,500 per sq.ft in 2024, marking a 9% increase from the previous year. The overall change from 2012 to 2024 shows a modest increase of 9%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The changes between the revisions indicate a fluctuating guideline value, with the most recent figure being Rs 2,500 per sq.ft in 2024.

Guideline values in Ambattur

In Ambattur, 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, with a median value of Rs 3,600 per sq.ft. Ibrahim Street's current guideline value is below this median.

• ICF Colony: Rs 3,600 per sq.ft (2024)
• Hospital Road: Rs 2,500 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)
• Indian Bank Colony 1st Main Road: Rs 4,000 per sq.ft (2024)
• Indian Bank Colony 1st Street: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ibrahim Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total costs together to 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ibrahim Street?

The Sub Registrar Office that covers Ibrahim Street 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 for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration of property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ibrahim Street?

The current guideline value of Ibrahim Street 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 from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification of Ibrahim Street?

Ibrahim Street is classified as Residential Class III Type - II, which indicates its designated use within the Ambattur area.

Where can I find the Sub Registrar Office for Ibrahim Street?

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

How is stamp duty calculated for property in Ibrahim Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the guideline value of Rs 2,500 per sq.ft incurs a total stamp duty of Rs 1,75,000.