Guideline Value for New Ambedkar Street

New Ambedkar Street guideline value

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

How the guideline value of New Ambedkar Street has changed

The guideline value for New Ambedkar Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in the 2023 revision. This change reflects an 8% increase from the previous year. Notably, the guideline value has remained unchanged at Rs 1,200 per sq.ft from 2012 to 2023, indicating no change during that period. Furthermore, the register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from 2012 to 2024, the guideline value for New Ambedkar Street has increased by 8%. The 2024 guideline value is below the median value of Rs 2,400 per sq.ft for the 1,151 streets in Madambakkam under the Selaiyur SRO.

Guideline values in Madambakkam

In Madambakkam, the guideline values range from Rs 1,100 to Rs 6,000 per sq.ft as of 2024. The median value is Rs 2,400 per sq.ft, making the guideline value of New Ambedkar Street lower than this median. Below are other streets in Madambakkam with their respective guideline values:

• New Ambedkar Cross Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters Road: 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 Street

For a 1,000 sq.ft plot on New Ambedkar Street at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these charges Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers New Ambedkar Street?

The Sub Registrar Office that covers New Ambedkar Street is 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 more details.

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

The guideline value is a critical factor during property registration in Madambakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees that buyers need to pay. This value is essential for ensuring that the property is registered at a fair price according to government standards.

When buying or selling property, it is important to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of New Ambedkar Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There has been no change from 2012 to 2023, and the overall increase from 2012 to 2024 is 8%.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft as of 2024, which is higher than the guideline value of New Ambedkar Street.

What are the stamp duty and registration fees for properties on New Ambedkar Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

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