Guideline Value for Dr Ambethkar Colony 1st Lane

Dr Ambethkar Colony 1st Lane guideline value

The current guideline value of Dr Ambethkar Colony 1st Lane, located in Palavanthangal village under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - III land classification.

How the guideline value of Dr Ambethkar Colony 1st Lane has changed

The guideline value for Dr Ambethkar Colony 1st Lane has seen several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a significant rise of 60%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, showing a substantial increase of 49% over the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 76%.

Guideline values in Palavanthal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Dr Ambethkar Colony 1st Lane is below this median.

• Dr Ambethkar Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Dr Ambethkar Colony 2nd Lane: Rs 2,200 per sq.ft (2024)
• Dr Ambethkar Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Elango Adigal Street: Rs 3,900 per sq.ft (2024)
• College Road: Rs 5,500 per sq.ft (2024)
• Gandhi Road/Gandhi Salai: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Dr Ambethkar Colony 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr Ambethkar Colony 1st Lane?

The Sub Registrar Office that covers Dr Ambethkar Colony 1st Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Palavanthangal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall transaction costs. Buyers should ensure that the sale price is not below the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Dr Ambethkar Colony 1st Lane?

The current guideline value of Dr Ambethkar Colony 1st Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 76% over the years.

What is the land classification of Dr Ambethkar Colony 1st Lane?

Dr Ambethkar Colony 1st Lane is classified as Residential Class II Type - III.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Dr Ambethkar Colony 1st Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.