Guideline Value for Sri Ambal City I

Sri Ambal City I guideline value

The current guideline value of Sri Ambal City I is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in the village of Mangadu -A under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Sri Ambal City I has changed

The guideline value for Sri Ambal City I has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, and overall, there has been a 64% rise in the guideline value from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In the village of Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Sri Ambal City I above this median.

• Sri Ambal Gajalakshmi Nagar Phase I to IV: Rs 2,200 per sq.ft (2024)
• Sri Ambal Nagar Extension I to VIII: Rs 2,200 per sq.ft (2024)
• Sri Ambal Nagar Manali Ramakrishna Avenue: Rs 2,200 per sq.ft (2024)
• Sri Ambal Nagar Manali Ramakrishna Avenue Phase II: Rs 2,200 per sq.ft (2024)
• Sri Ambal Nagar Venkateswara Avenue: Rs 2,200 per sq.ft (2024)
• Sri Ambal Venkateswara Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ambal City I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ambal City I?

The Sub Registrar Office that covers Sri Ambal City I is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role during property registration in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property transaction occurs.

When buying or selling property, the guideline value is used to calculate the applicable charges, ensuring that both parties are aware of the financial implications of the transaction. This helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Sri Ambal City I?

The current guideline value of Sri Ambal City I is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a 64% overall increase during this period.

What is the median guideline value in Mangadu -A?

The median guideline value for the 208 streets in Mangadu -A is Rs 1,870 per sq.ft, with Sri Ambal City I's value being above this median.

What are the stamp duty and registration fees for property in Sri Ambal City I?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it serves the area of Sri Ambal City I.