Guideline Value for Shri ambal nagar

Shri ambal nagar guideline value

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

How the guideline value of Shri ambal nagar has changed

The guideline value for Shri ambal nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was set at Rs 300 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 733%. However, it then decreased to Rs 1,675 per sq.ft in 2017, representing a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and then to the current figure of Rs 2,740 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 813%. The changes between the revisions indicate fluctuations in the guideline value, reflecting various factors affecting property in the region.

Guideline values in Poonthamallee

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

• Shri ambal city: 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)
• Shri ambal nagar phase 1: Rs 2,740 per sq.ft (2024)
• Shrenivasa nagar: Rs 2,200 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 nagar

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 at 7% would be Rs 1,91,800, while the registration fee at 2% would be Rs 54,800. Together, the total cost for stamp duty and registration fee would be Rs 2,46,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shri ambal nagar?

The Sub Registrar Office that covers Shri ambal nagar 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 plays a crucial role in property transactions within Poonthamallee. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating stamp duty and registration fees, which are mandatory costs when buying or selling property.

When a property is sold, the guideline value is used to ensure that the sale price is in accordance with the government’s valuation. This helps maintain transparency and fairness in property transactions, ensuring that both buyers and sellers are aware of the official value of the property they are dealing with.

Frequently asked questions

What is the current guideline value of Shri ambal nagar?

The current guideline value of Shri ambal nagar 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 significantly from Rs 300 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, reflecting an overall increase of 813% over the years.

What is the land classification of Shri ambal nagar?

Shri ambal nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Shri ambal nagar?

For a property valued at Rs 27,40,000, the stamp duty would be Rs 1,91,800 and the registration fee would be Rs 54,800, totaling Rs 2,46,600.

Where is the Sub Registrar Office for Shri ambal nagar located?

The Sub Registrar Office for Shri ambal nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.