Guideline Value for North park Street

North park Street guideline value

The current guideline value of North park Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village and falls under the Ambattur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of North park Street has changed

Over the years, the guideline value of North park Street has seen several revisions. The oldest recorded revision is from 2012, where the value was Rs 6,000 per sq.ft. This was followed by a decrease to Rs 4,020 per sq.ft in 2017. The value then increased significantly to Rs 6,000 per sq.ft in 2023, and further to Rs 6,600 per sq.ft in 2024, marking a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The current guideline value of Rs 6,600 per sq.ft is now above the median for other streets in Ambattur.

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, with a median value of Rs 3,600 per sq.ft. The guideline value of North park Street is significantly higher than this median.

• Nirmal Street: Rs 6,600 per sq.ft (2024)
• Old Baroda Bank Street (Bank of Baroda Street): Rs 6,600 per sq.ft (2024)
• Old E.S.I Street: Rs 5,100 per sq.ft (2024)
• Old post office Road: Rs 6,600 per sq.ft (2024)
• Old township Road: Rs 6,600 per sq.ft (2024)
• Oragadam Cross Road: Rs 5,100 per sq.ft (2024)

Stamp duty and registration fee for property in North park Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. 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 North park Street?

The Sub Registrar Office that covers North park 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Ambattur. It is used to determine the amount of stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer is required to pay stamp duty 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 North park Street?

The current guideline value of North park Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2023 to Rs 6,600 per sq.ft in 2024, marking a 10% increase. It was Rs 4,020 per sq.ft in 2017 and Rs 6,000 per sq.ft in 2012.

What is the land classification for North park Street?

North park Street is classified as Commercial Class I Type - II.

Where can I find the Sub Registrar Office for North park Street?

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

How is stamp duty calculated for properties on North park Street?

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 guideline value, the total stamp duty would be Rs 4,62,000.