Guideline Value for Dr. Ambedkar 11th Lane

Dr. Ambedkar 11th Lane guideline value

The current guideline value of Dr. Ambedkar 11th 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 11th Lane has changed

The guideline value for Dr. Ambedkar 11th Lane has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a 100% increase. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a significant increase of 64% from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street in the register.

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. Dr. Ambedkar 11th Lane's 2024 guideline value is below this median.

• Dr. Ambedkar 119th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 120th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 118th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 121st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 117th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 12th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 11th 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, leading to a total of Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 11th Lane?

The Sub Registrar Office covering Dr. Ambedkar 11th 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 plays a crucial role in property transactions in Velachery. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is established by the government and is updated periodically based on various factors.

When you sell property in Velachery, the guideline value is also used to assess the sale price for registration purposes. It ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 11th Lane?

The current guideline value of Dr. Ambedkar 11th 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 significantly from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 120% over this period.

What is the land classification of Dr. Ambedkar 11th Lane?

Dr. Ambedkar 11th Lane is classified as Residential Class III Type - I.

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 office handles the registration for Dr. Ambedkar 11th Lane?

The Velacheri Sub Registrar Office handles the registration for Dr. Ambedkar 11th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.