Guideline Value for South park Street

South park Street guideline value

The current guideline value of South park Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of South park Street has changed

The guideline value for South park Street has seen several revisions over the years. The 2012 revision set the value at Rs 6,000 per sq.ft, which then decreased to Rs 4,020 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 6,000 per sq.ft in 2023, and the most recent revision in 2024 has raised it to Rs 6,600 per sq.ft.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%. Notably, 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, with a median value of Rs 3,600 per sq.ft. South park Street's 2024 figure of Rs 6,600 per sq.ft is above this median.

• Solampedu Road: Rs 6,600 per sq.ft (2024)
• Sivanantham Nagar Pillaiyarkoil Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar Erikkarai Street: Rs 2,200 per sq.ft (2024)
• Sivanantham nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in South park Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. 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 South park Street?

The Sub Registrar Office covering South park 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 determines the minimum value at which properties can be sold or purchased, ensuring that the transaction is recorded accurately for legal and taxation purposes.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transaction. It is important to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of South park Street?

The current guideline value of South park 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 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then increased to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for South park Street?

South park Street is classified as Commercial Class I Type - II.

Where can I find the Sub Registrar Office for South park Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 5,94,000.