Guideline Value for Sri Ramalu naidu Street

Sri Ramalu naidu Street guideline value

The current guideline value of Sri Ramalu naidu Street is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Sri Ramalu naidu Street has changed

The guideline value for Sri Ramalu naidu Street has undergone several revisions over the years. In 2012, the value was Rs 3,700 per sq.ft, which then decreased to Rs 2,479 per sq.ft in 2017. Following this, there was a significant increase to Rs 3,700 per sq.ft in 2023, and the current value is Rs 4,000 per sq.ft as of the 2024 revision, marking an 8% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been an increase of 8%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Ambattur

Ambattur village has a total of 448 streets under the Ambattur SRO, with guideline values ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value in this area is Rs 3,600 per sq.ft, making the current value of Sri Ramalu naidu Street above this median.

• Sri Venkataramullu Naidu Street: Rs 4,000 per sq.ft (2024)
• Sri Krishna Avenue: Rs 4,000 per sq.ft (2024)
• Station Road: Rs 4,600 per sq.ft (2024)
• Subbammal Street: Rs 4,600 per sq.ft (2024)
• Subban Street: Rs 4,000 per sq.ft (2024)
• Subramaniam Street: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramalu naidu Street

For a 1,000 sq.ft plot at the current rate of Rs 4,000 per sq.ft, the guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, totaling Rs 3,60,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ramalu naidu Street?

The Sub Registrar Office that covers Sri Ramalu naidu Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ambattur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that the transaction is documented accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Sri Ramalu naidu Street?

The current guideline value of Sri Ramalu naidu Street is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2012 to Rs 2,479 per sq.ft in 2017, then increased to Rs 3,700 per sq.ft in 2023, and is currently Rs 4,000 per sq.ft in 2024.

What is the land classification for Sri Ramalu naidu Street?

Sri Ramalu naidu Street is classified as Residential Special Type - II according to the local land classification regulations.

What are the stamp duty rates for property in Ambattur?

The stamp duty for property in Ambattur is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Sub Registrar Office for Sri Ramalu naidu Street?

The Sub Registrar Office covering Sri Ramalu naidu Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.