Guideline Value for Shri ambal nagar phase 1

Shri ambal nagar phase 1 guideline value

The current guideline value of Shri ambal nagar phase 1 is Rs 2,740 per sq.ft, effective from 1 July 2024. This locality is situated in Poonthamallee village under the Poonamallee SRO and is classified as Residential Class I Type - I.

How the guideline value of Shri ambal nagar phase 1 has changed

The guideline value for Shri ambal nagar phase 1 has undergone several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 525%. However, from 2012 to 2017, it decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, reflecting a 49% rise, and has now risen to Rs 2,740 per sq.ft in 2024, a 10% increase.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 585%.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Shri ambal nagar phase 1 is above this median.

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

Stamp duty and registration fee for property in Shri ambal nagar phase 1

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value would be Rs 27,40,000. The stamp duty at 7% would amount to Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, totaling Rs 2,46,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shri ambal nagar phase 1?

The Sub Registrar Office covering Shri ambal nagar phase 1 is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee 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 during the registration of property transactions in Poonthamallee. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both parties involved in the transaction. It is essential to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Shri ambal nagar phase 1?

The current guideline value of Shri ambal nagar phase 1 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 400 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, representing an overall increase of 585% over the years.

What are the registration fees for property in Shri ambal nagar phase 1?

The registration fees include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Which office handles registrations for Shri ambal nagar phase 1?

The Poonamallee Sub Registrar Office handles registrations for Shri ambal nagar phase 1, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the significance of the guideline value?

The guideline value is significant as it establishes the minimum price for property registration, ensuring that the appropriate stamp duty and registration fees are collected by the government during property transactions.