Guideline Value for Shop Cross Street

Shop Cross Street guideline value

The current guideline value of Shop Cross Street, located in Ambattur village under the Ambattur SRO, is Rs 5,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

How the guideline value of Shop Cross Street has changed

Over the years, the guideline value of Shop Cross Street has seen several revisions. The earliest recorded figure is from 2012, where it was Rs 4,700 per sq.ft. This was followed by a decrease to Rs 3,149 per sq.ft in 2017. In 2023, the value increased significantly to Rs 4,700 per sq.ft, and the most recent revision in 2024 set the value at Rs 5,100 per sq.ft, marking an increase of 9% from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 9% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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. The median value for these streets is Rs 3,600 per sq.ft, which means that Shop Cross Street's 2024 figure of Rs 5,100 per sq.ft is above the median.

• Shop Street: Rs 6,600 per sq.ft (2024)
• Sivanantham 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Sivanantham 1st Main Road: Rs 2,200 per sq.ft (2024)
• Sivanantham 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Sivanantham 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Sivanantham 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shop Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,100 per sq.ft, the total guideline value amounts to Rs 51,00,000. The stamp duty at 7% would be Rs 3,57,000, and the registration fee at 2% would be Rs 1,02,000, bringing the total cost to Rs 4,59,000. 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 more details.

Which Sub Registrar Office covers Shop Cross Street?

The Sub Registrar Office that covers Shop Cross Street is located at Ambattur Sub Registrar Office, Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Shop Cross Street?

The current guideline value of Shop Cross Street is Rs 5,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,700 in 2012 to Rs 3,149 in 2017, then back to Rs 4,700 in 2023, and finally to Rs 5,100 in 2024.

What is the land classification for Shop Cross Street?

Shop Cross Street is classified under Residential Special Type - I.

What are the other streets in Ambattur with their guideline values?

Other streets in Ambattur include Shop Street at Rs 6,600 per sq.ft, and several streets in Sivanantham, all at Rs 2,200 per sq.ft.

Where is the Sub Registrar Office for Shop Cross Street located?

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