Guideline Value for Shri ambal city

Shri ambal city guideline value

The current guideline value for Shri Ambal City, located in Poonthamallee village under the Poonamallee SRO, is Rs 2,740 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Shri ambal city has changed

The guideline value for Shri Ambal City has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the value at Rs 2,740 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Poonthamallee

Poonthamallee has a total of 257 streets under the Poonamallee SRO, with 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Shri Ambal City above this median.

• Shri ambal nagar: Rs 2,740 per sq.ft (2024)
• Shri Ambal Nagar Ethiraj Naidu Avenue: Rs 2,740 per sq.ft (2024)
• Shri Ambal Nagar Malligai Avenue: Rs 2,740 per sq.ft (2024)
• Shrenivasa nagar: Rs 2,200 per sq.ft (2024)
• Shri ambal nagar phase 1: Rs 2,740 per sq.ft (2024)
• Shri Bakthavatchalam avenue 559/2,560,561,564: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Shri ambal city

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value amounts to Rs 27,40,000. The stamp duty is calculated at 7%, resulting in Rs 1,91,800, while the registration fee at 2% amounts to Rs 54,800. Therefore, the total cost for stamp duty and registration would be Rs 2,46,600. 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 Shri ambal city?

The Sub Registrar Office that covers Shri Ambal City is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Poonthamallee, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations. This value helps in establishing a fair price for the property during the registration process, thereby facilitating a smoother transaction.

Frequently asked questions

What is the current guideline value for Shri ambal city?

The current guideline value for Shri Ambal City is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,740 per sq.ft in 2024.

What is the land classification for Shri ambal city?

Shri Ambal City is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty rates for property in Shri ambal city?

The stamp duty for property in Shri Ambal City is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Shri ambal city?

The Sub Registrar Office for Shri Ambal City is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.