Guideline Value for Dr. Ambedkar 102nd Lane

Dr. Ambedkar 102nd Lane guideline value

The current guideline value of Dr. Ambedkar 102nd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This lane is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 102nd Lane has changed

The guideline value for Dr. Ambedkar 102nd Lane has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rose significantly to Rs 3,000 per sq.ft in 2023, and then further increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 120%. The register has no figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 4,400 per sq.ft. The guideline value of Dr. Ambedkar 102nd Lane is below this median.

• Dr. Ambedkar 101th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 103th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 100th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 104th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 105th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 106th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 102nd Lane

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. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar 102nd Lane?

The Sub Registrar Office that covers Dr. Ambedkar 102nd Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the market conditions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all parties are aware of the financial implications before finalizing any property transaction.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 102nd Lane?

The current guideline value of Dr. Ambedkar 102nd Lane 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, marking an overall increase of 120% over the years.

What is the land classification for Dr. Ambedkar 102nd Lane?

Dr. Ambedkar 102nd Lane is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this lane?

The Sub Registrar Office covering Dr. Ambedkar 102nd Lane is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.