Guideline Value for Sri Ambal Nagar

Sri Ambal Nagar guideline value

The current guideline value of Sri Ambal Nagar, located in Kovur village under the Kunrathur SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Ambal Nagar has changed

The guideline value for Sri Ambal Nagar has seen significant revisions over the years. In 2003, the value was set at Rs 100 per sq.ft, which increased to Rs 250 per sq.ft in 2007. Following this, the value surged to Rs 1,500 per sq.ft in 2012, before dropping to Rs 1,005 per sq.ft in 2017. The 2023 revision saw a notable increase to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,650 per sq.ft.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was a remarkable 500%, and from 2003 to 2007, the increase was 150%. Overall, from 2003 to 2024, the guideline value has risen by 1550%. The register has no figure for the year 2002 for this street.

Guideline values in Kovur

Kovur village has 91 streets under the Kunrathur SRO, with guideline values for 2024 ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sri Ambal Nagar.

• Sri Ambal Nagar Annex Extension: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar Extn: Rs 1,650 per sq.ft (2024)
• Sri Adilkshmi Nagar Annexe: Rs 1,650 per sq.ft (2024)
• Sri Adhilakshmi nagar Extn: Rs 1,650 per sq.ft (2024)
• Sri Adhilakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Sree Srinivasan Nagar Extension: Rs 2,300 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Sri Ambal Nagar?

The Sub Registrar Office covering Sri Ambal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction reflects a fair value as per government standards.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sri Ambal Nagar?

The current guideline value of Sri Ambal Nagar is Rs 1,650 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 100 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting a total increase of 1550% over this period.

What is the land classification for Sri Ambal Nagar?

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

Where can I find the registration office for Sri Ambal Nagar?

The registration office for Sri Ambal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,650 per sq.ft would incur a total of Rs 1,48,500 in duties and fees.