Guideline Value for Dr. Ambedkar 14th Lane

Dr. Ambedkar 14th Lane guideline value

The current guideline value of Dr. Ambedkar 14th 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 14th Lane has changed

The guideline value for Dr. Ambedkar 14th 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, the value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then surged significantly to Rs 3,000 per sq.ft in 2023, followed by another increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise.

From 2017 to 2023, the increase was 49%. 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 have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with the median being Rs 4,400 per sq.ft. Dr. Ambedkar 14th Lane's 2024 figure is below this median.

• Dr. Ambedkar 13th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 15th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 12th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 16th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 121st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 17th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 14th Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. Please note that the 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 14th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 14th 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 applicable during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 14th Lane?

The current guideline value of Dr. Ambedkar 14th 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 several times, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. Overall, from 2007 to 2024, the value has increased by 120%.

What is the classification of land in Dr. Ambedkar 14th Lane?

Dr. Ambedkar 14th Lane is classified as Residential Class III Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office covers Dr. Ambedkar 14th Lane and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.