Guideline Value for Sri Ambal Nagar

Sri Ambal Nagar guideline value

The current guideline value of Sri Ambal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Sri Ambal Nagar has changed

The guideline value for Sri Ambal Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Sri Ambal Nagar below this median.

• South Street: Rs 3,300 per sq.ft (2024)
• Solomon Street: Rs 1,320 per sq.ft (2024)
• Sri Durga Nagar: Rs 2,200 per sq.ft (2024)
• Siva Shanmugam Pillai Street: Rs 6,600 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 1,650 per sq.ft (2024)
• Sivaraj Street 1st Junction: 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, which totals Rs 1,54,000, and the registration fee at 2% amounts to Rs 44,000. Together, the total cost for stamp duty and registration fees would be 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ambal Nagar?

The Sub Registrar Office that covers Sri Ambal Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tambaram. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or bought. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When you register a property, the guideline value will be compared to the sale price, and the duty will be charged on whichever is higher. This ensures that the registration fees are aligned with the prevailing market conditions, providing a fair basis for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Sri Ambal Nagar?

The current guideline value of Sri Ambal Nagar 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sri Ambal Nagar?

Sri Ambal Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu 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, for a plot of 1,000 sq.ft at Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000, leading to specific fees based on that value.