Guideline Value for Township Street

Township Street guideline value

The current guideline value of Township Street in Ambattur village, under the Ambattur SRO, is Rs 4,000 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - II.

How the guideline value of Township Street has changed

In the 2012 revision, the guideline value was Rs 3,700 per sq.ft. This figure remained until the 2017 revision when it decreased to Rs 2,479 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 3,700 per sq.ft in the 2023 revision, and then rose again to Rs 4,000 per sq.ft in the 2024 revision, reflecting an overall increase of 49% from 2017 to 2023 and an 8% increase from 2023 to 2024.

There are no figures available for the revisions in 2002, 2003, and 2007 for Township Street. From 2012 to 2024, the overall change in guideline value is an increase of 8%.

Guideline values in Ambattur

In Ambattur, there are 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 is Rs 3,600 per sq.ft, placing Township Street's 2024 figure above this median.

• TNHB SriRam Flats (S.No.481/1, 2): Rs 3,600 per sq.ft (2024)
• T.N.H.B. Phase I & II (Residence): Rs 3,600 per sq.ft (2024)
• T.N.H.B. Phase I & II (Commercial): Rs 5,500 per sq.ft (2024)
• T.P.O. Street: Rs 4,000 per sq.ft (2024)
• T.N.H.B. Phase III: Rs 3,600 per sq.ft (2024)
• T.I. Cycle Road: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Township Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value would be Rs 40,00,000. The stamp duty at 7% would amount to Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, bringing the total charges to Rs 3,60,000. 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 Township Street?

The Sub Registrar Office covering Township 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 critical component in the registration process of property transactions in Ambattur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standard value rather than the negotiated sale price.

When buying or selling property, the guideline value helps establish a fair assessment for tax purposes. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Township Street?

The current guideline value of Township 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 seen several changes, with the most recent increase from Rs 3,700 per sq.ft in 2023 to Rs 4,000 per sq.ft in 2024. The value was Rs 2,479 per sq.ft in 2017 and Rs 3,700 per sq.ft in 2012.

What is the land classification for Township Street?

The land classification for Township Street is Residential Special Type - II, which designates it for residential use within the area.

What are the stamp duty and registration fees for properties in Township Street?

For a property valued at Rs 40,00,000, the stamp duty would be Rs 2,80,000, and the registration fee would be Rs 80,000, totaling Rs 3,60,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Township Street?

The Ambattur Sub Registrar Office handles the registration for Township Street. It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.