Guideline Value for Ambedkar colony 3rd Cross Street

Ambedkar colony 3rd Cross Street guideline value

The current guideline value of Ambedkar colony 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ambedkar colony 3rd Cross Street has changed

The guideline value for Ambedkar colony 3rd Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, the value decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value then increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Ambedkar colony 3rd Cross Street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in the area is Rs 4,400 per sq.ft, placing Ambedkar colony 3rd Cross Street below this median.

• Ambedkar colony 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Ambedkar colony 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Ambedkar colony: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Ambedkar Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar colony 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Ambedkar colony 3rd Cross Street?

The Sub Registrar Office that covers Ambedkar colony 3rd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions reflect a fair value for the area.

When registering a property, the guideline value is used to calculate applicable duties and fees. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Ambedkar colony 3rd Cross Street?

The current guideline value of Ambedkar colony 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 120% over the years.

What is the stamp duty for property in Ambedkar colony 3rd Cross Street?

The stamp duty for property in Ambedkar colony 3rd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Velachery?

The Velacheri Sub Registrar Office handles property registrations in Velachery, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, which is above the current guideline value of Ambedkar colony 3rd Cross Street.