Guideline Value for Sri Ambal Nagar

Sri Ambal Nagar guideline value

The current guideline value of Sri Ambal Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft. This value is effective from the 1st of July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Sri Ambal Nagar has changed

In the 2012 revision, the guideline value for Sri Ambal Nagar was Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not have figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Sri Ambal Nagar is below this median.

• Sri Abirami Nagar: Rs 1,300 per sq.ft (2024)
• Sree Nagar (Ward-04): Rs 1,300 per sq.ft (2024)
• Sri Balaji Avenue: Rs 1,300 per sq.ft (2024)
• Soorappattu Road (Vinayagapuram): Rs 1,300 per sq.ft (2024)
• Soorapat Road (Ward-29): Rs 1,300 per sq.ft (2024)
• Sri Ganapathi 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the 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 Sri Ambal Nagar?

The Sub Registrar Office covering Sri Ambal Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value helps ensure that the transaction is recorded accurately in the official register. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Ambal Nagar?

The current guideline value of Sri Ambal Nagar is Rs 1,300 per sq.ft, effective from 1st July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023, and then increased to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification of Sri Ambal Nagar?

Sri Ambal Nagar falls under the Residential Class III Type - I land classification, which is relevant for determining its guideline value.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Madhavaram?

The Madhavaram Sub Registrar Office handles property registrations in Madhavaram. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.