Guideline Value for Shop Street

Shop Street guideline value

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

How the guideline value of Shop Street has changed

The guideline value for Shop Street has seen several revisions over the years. In 2012, the value was set at Rs 6,000 per sq.ft. However, this figure decreased to Rs 4,020 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 6,000 per sq.ft in 2023, and further rose to Rs 6,600 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Looking at the changes, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value in this area is Rs 3,600 per sq.ft, placing Shop Street's 2024 value above the median.

• Shop Cross Street: Rs 5,100 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 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 to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Shop Street?

The Sub Registrar Office that covers Shop 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 information.

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

The guideline value is a crucial factor when registering property transactions in Ambattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a buyer or seller engages in a property transaction, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are applied based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Shop Street?

The current guideline value of Shop 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 in 2012 to Rs 4,020 in 2017, then back to Rs 6,000 in 2023, and finally to Rs 6,600 in 2024.

What is the land classification of Shop Street?

Shop Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Shop Street?

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

How is the stamp duty calculated for properties in Ambattur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be calculated at 7% of that amount.