Guideline Value for Dr. Ambedkar 103th Lane

Dr. Ambedkar 103th Lane guideline value

The current guideline value of Dr. Ambedkar 103th 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 103th Lane has changed

The guideline value for Dr. Ambedkar 103th Lane has seen several revisions over the years. The earliest recorded figure is from 2007, at Rs 1,500 per sq.ft. This 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 decline of 33%. The value rose significantly to Rs 3,000 per sq.ft in 2023, and further increased to the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Between 2017 and 2023, the increase was notable at 49%. Overall, from 2007 to 2024, the guideline value has increased by 120%. The register does not contain 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, with 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, indicating that Dr. Ambedkar 103th Lane's 2024 figure is below this median.

• Dr. Ambedkar 102nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 104th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 101th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 105th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 100th 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 103th 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. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar 103th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 103th 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 more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is important to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 103th Lane?

The current guideline value of Dr. Ambedkar 103th 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, reflecting an overall increase of 120% over the years.

What is the stamp duty for property in Dr. Ambedkar 103th Lane?

The stamp duty for property in Dr. Ambedkar 103th Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

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

What land classification is Dr. Ambedkar 103th Lane?

Dr. Ambedkar 103th Lane is classified as Residential Class III Type - I.