Guideline Value for Sri Ambal Nagar

Sri Ambal Nagar guideline value

The current guideline value of Sri Ambal Nagar is Rs 4,125 per sq.ft, effective from 1 July 2024. This locality is situated in Kilkattalai village, which falls under the Pallavaram Sub Registrar Office (SRO). The land classification for this area is Mixed Type - I.

How the guideline value of Sri Ambal Nagar has changed

The guideline value for Sri Ambal Nagar has seen significant changes over the years. The earliest recorded figure was Rs 317 per sq.ft in 2003, which increased to Rs 500 per sq.ft in 2007, marking a 58% rise. By 2012, the value surged to Rs 2,500 per sq.ft, a remarkable 400% increase from 2007. The 2023 revision set the value at Rs 3,750 per sq.ft, reflecting a 50% increase from 2012.

The most recent revision in 2024 has set the guideline value at Rs 4,125 per sq.ft, which is a 10% increase from the previous year. It is important to note that the register has no figures for the years 2017 and 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft as per the 2024 revision. The median guideline value for the village is Rs 2,530 per sq.ft, placing Sri Ambal Nagar's 2024 figure above this median.

• Soundarajan Nagar: Rs 3,080 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 2,530 per sq.ft (2024)
• Self Help Private Industrial Estate: Rs 2,200 per sq.ft (2024)
• Self Help Industrial Estate 1 To 5 Streets: Rs 2,200 per sq.ft (2024)
• Sayee Street (Indian Lane): Rs 2,200 per sq.ft (2024)
• Sayee Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,125 per sq.ft, the total guideline value amounts to Rs 41,25,000. The stamp duty at 7% would be Rs 2,88,750, and the registration fee at 2% would be Rs 82,500, bringing the total fees together to Rs 3,71,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sri Ambal Nagar?

Sri Ambal Nagar falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Kilkattalai. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is in accordance with the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Sri Ambal Nagar?

The current guideline value of Sri Ambal Nagar is Rs 4,125 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 317 per sq.ft in 2003 to Rs 4,125 per sq.ft in 2024, which is an overall increase of 1201%.

What are the stamp duty and registration fees for a property in Sri Ambal Nagar?

For a property valued at Rs 41,25,000, the stamp duty would be Rs 2,88,750 and the registration fee would be Rs 82,500, totaling Rs 3,71,250.

Where can I find the Sub Registrar Office for Sri Ambal Nagar?

The Sub Registrar Office covering Sri Ambal Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value determined for properties in Kilkattalai?

The guideline value is determined by the Registration Department and is based on various factors, including location and land classification. It is updated periodically to reflect changes in the real estate market.