Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 112th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 112th 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 112th Lane

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Dr. Ambedkar 112th Lane guideline value

The current guideline value of Dr. Ambedkar 112th 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 112th Lane has changed

The guideline value for Dr. Ambedkar 112th Lane has seen several revisions over the years. The 2007 revision set the rate at Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, there was a significant decrease of 33% to Rs 2,010 per sq.ft in the 2017 revision. The value then rose sharply by 49% to Rs 3,000 per sq.ft in 2023, and most recently, it increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

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. The median guideline value is Rs 4,400 per sq.ft, placing Dr. Ambedkar 112th Lane's 2024 figure below that median.

Stamp duty and registration fee for property in Dr. Ambedkar 112th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total cost 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 details.

Which Sub Registrar Office covers Dr. Ambedkar 112th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 112th 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 when it comes to the registration of property transactions in Velachery. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it may influence negotiations and the final sale price. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 112th Lane?

The current guideline value of Dr. Ambedkar 112th 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing a total increase of 120% over the years.

What are the stamp duty and registration fees for property in this lane?

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000 based on the current guideline value.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Dr. Ambedkar 112th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Dr. Ambedkar 112th Lane?

Dr. Ambedkar 112th Lane is classified as Residential Class III Type - I, indicating its suitability for residential development.