Guideline Value for SHRI AMBAL NAGAR /EXTN

Shri Ambal Nagar /Extn guideline value

The current guideline value of Shri Ambal Nagar /Extn is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Shri Ambal Nagar /Extn has changed

The guideline value for Shri Ambal Nagar /Extn has undergone several revisions over the years. The oldest recorded figure is from the 2012 revision, which was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision. However, the most recent 2024 revision shows a significant increase to Rs 1,980 per sq.ft, marking a 64% rise from the 2017 figure.

In summary, from the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Shri Ambal Nagar /Extn's current value above this median.

• Shri Angala Parameswari Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Shri Ayya Nagar: Rs 1,320 per sq.ft (2024)
• Shri Balaji Nagar: Rs 1,320 per sq.ft (2024)
• Shridharan V Nagar: Rs 2,200 per sq.ft (2024)
• Shri Ganapathi Nagar: Rs 1,320 per sq.ft (2024)
• Shri Jaya Anjenayar Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Ambal Nagar /Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Shri Ambal Nagar /Extn?

The Sub Registrar Office that covers Shri Ambal Nagar /Extn is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence negotiations and final sale prices. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Shri Ambal Nagar /Extn?

The current guideline value of Shri Ambal Nagar /Extn is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, and then increased to Rs 1,980 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What are the guideline values for other streets in Pallikaranai?

Other streets in Pallikaranai have varying guideline values, ranging from Rs 1,110 to Rs 8,580 per sq.ft. For example, Shri Jaya Anjenayar Nagar has a value of Rs 1,650 per sq.ft in 2024.

What is the stamp duty for properties in Shri Ambal Nagar /Extn?

The stamp duty for properties in Shri Ambal Nagar /Extn is 7% of the guideline value. For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.

Which office handles registrations for Shri Ambal Nagar /Extn?

The Chennai South Joint I Sub Registrar Office handles registrations for Shri Ambal Nagar /Extn. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.