Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 108th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 108th Lane in Velachery village (Velacheri SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Dr. Ambedkar 108th Lane

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Dr. Ambedkar 108th Lane guideline value

The current guideline value for Dr. Ambedkar 108th Lane 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 Dr. Ambedkar 108th Lane has changed

The guideline value for Dr. Ambedkar 108th Lane has undergone 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. However, it then decreased to Rs 2,010 per sq.ft in 2017. The value saw a significant increase to Rs 3,000 per sq.ft in 2023, followed by another increase to Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. 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 of Rs 4,400 per sq.ft. Dr. Ambedkar 108th Lane's guideline value is below this median.

Stamp duty and registration fee for property in Dr. Ambedkar 108th Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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 Dr. Ambedkar 108th Lane?

The Sub Registrar Office covering Dr. Ambedkar 108th 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 during the registration of property transactions in Velachery. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps establish a baseline for the transaction. Buyers and sellers must be aware of this value to ensure that the sale price is appropriately aligned with the legal requirements for registration.

Frequently asked questions

What is the current guideline value for Dr. Ambedkar 108th Lane?

The current guideline value for Dr. Ambedkar 108th 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, with various increases and decreases in between. Notably, it increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024.

Where can I find the registration office for properties in this area?

The registration office for properties in Dr. Ambedkar 108th Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for calculating stamp duty and registration fees during property transactions. It ensures that the transaction adheres to local regulations.

How do I calculate the stamp duty for a property in Dr. Ambedkar 108th Lane?

To calculate the stamp duty for a property, multiply the guideline value by the applicable stamp duty rate. For instance, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.