Guideline Value for Dr Ambethkar Colony 2nd Lane

Dr Ambethkar Colony 2nd Lane guideline value

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

How the guideline value of Dr Ambethkar Colony 2nd Lane has changed

The guideline value for Dr Ambethkar Colony 2nd 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 growth of 60%. However, it decreased to Rs 1,340 per sq.ft in 2017, reflecting a decline of 33%. The value then rose significantly to Rs 2,000 per sq.ft in 2023, and further increased to Rs 2,200 per sq.ft in 2024, representing a 10% increase.

From 2017 to 2023, the increase was 49%, bringing the value to Rs 2,000 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 76%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO with 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 2nd Lane is below this median.

• Dr Ambethkar Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Dr Ambethkar Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Dr Ambethkar Colony 1st Lane: 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that 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 Dr Ambethkar Colony 2nd Lane?

The Sub Registrar Office that covers Dr Ambethkar Colony 2nd 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Palavanthangal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value as it can influence the overall costs associated with property transactions. Understanding the current guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Dr Ambethkar Colony 2nd Lane?

The current guideline value of Dr Ambethkar Colony 2nd 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 significantly 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 this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Dr Ambethkar Colony 2nd Lane?

The Alandur Sub Registrar Office covers Dr Ambethkar Colony 2nd Lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Dr Ambethkar Colony 2nd Lane?

Dr Ambethkar Colony 2nd Lane is classified as Residential Class II Type - III.