Guideline Value for Dr. Ambedkar 111th Lane

Dr. Ambedkar 111th Lane guideline value

The current guideline value of Dr. Ambedkar 111th 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 111th Lane has changed

The guideline value for Dr. Ambedkar 111th Lane has seen several revisions over the years. In the 2007 revision, 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, reflecting a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and subsequently increased by 10% to the current rate of Rs 3,300 per sq.ft in 2024.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that Dr. Ambedkar 111th Lane's current value is below the median.

• Dr. Ambedkar 110th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 112th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 109th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 113th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 108th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 114th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 111th 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, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Dr. Ambedkar 111th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 111th 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 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 government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 111th Lane?

The current guideline value of Dr. Ambedkar 111th 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Dr. Ambedkar 111th Lane?

The Velacheri Sub Registrar Office covers Dr. Ambedkar 111th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Dr. Ambedkar 111th Lane?

Dr. Ambedkar 111th Lane is classified as Residential Class III Type - I, indicating its designation for residential use.