Guideline Value for New Ambedkar Cross Street

New Ambedkar Cross Street guideline value

The current guideline value of New Ambedkar Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of New Ambedkar Cross Street has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. The most recent revision in 2024 has increased this value to Rs 1,300 per sq.ft, marking an increase of 8%. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Comparing the revisions, the guideline value rose from Rs 1,200 in 2012 to Rs 1,300 in 2024. This change reflects the adjustments made in the guideline value register as per the latest assessments.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that New Ambedkar Cross Street's 2024 figure is below this median.

• Neval Quarters Road: Rs 1,300 per sq.ft (2024)
• New Ambedkar Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters Main Road: Rs 1,300 per sq.ft (2024)
• Neval Quarters 4th Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 3rd Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 3rd Main Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Ambedkar Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Ambedkar Cross Street?

The New Ambedkar Cross Street falls under the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is important for both buyers and sellers during the registration process. It is essential to refer to the latest guideline values to ensure compliance with the regulations.

Frequently asked questions

What is the current guideline value of New Ambedkar Cross Street?

The current guideline value of New Ambedkar Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft in 2024, representing an 8% rise. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for New Ambedkar Cross Street?

The land classification for New Ambedkar Cross Street is Residential Class II Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in New Ambedkar Cross Street.