Guideline Value for Dr. Ambedkar 120th Lane

Dr. Ambedkar 120th Lane guideline value

The current guideline value of Dr. Ambedkar 120th 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 120th Lane has changed

The guideline value for Dr. Ambedkar 120th Lane has seen 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, marking a 100% rise. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline 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 previous figure in 2017.

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.

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 120th Lane's 2024 figure is below this median.

• Dr. Ambedkar 11th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 121st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 119th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 12th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 118th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 13 th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 120th 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 cost together to Rs 2,97,000. It is important to note that the 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 120th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 120th 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 when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the current guideline value to ensure compliance with local regulations and to accurately estimate the costs associated with the registration process.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 120th Lane?

The current guideline value of Dr. Ambedkar 120th 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 experienced several changes, starting from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 120% since 2007.

What is the land classification for Dr. Ambedkar 120th Lane?

Dr. Ambedkar 120th Lane is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What is the stamp duty for property in this lane?

The stamp duty for property in Dr. Ambedkar 120th Lane is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 2,31,000.

Which office handles registrations for Dr. Ambedkar 120th Lane?

The Velacheri Sub Registrar Office handles registrations for Dr. Ambedkar 120th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.