Guideline Value for Dr. Ambedkar 15th Lane

Dr. Ambedkar 15th Lane guideline value

The current guideline value of Dr. Ambedkar 15th 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 15th Lane has changed

The guideline value of Dr. Ambedkar 15th Lane has seen several revisions over the years. The earliest recorded revision is from 2007, when the value was Rs 1,500 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, the value then dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, reflecting a 10% change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The revisions for the years 2002 and 2003 do not have any recorded figures for this street.

Guideline values in Velachery

In Velachery village, 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 15th Lane's current value is below this median.

• Dr. Ambedkar 14th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 16th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 13 th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 17th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 12th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 18th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 15th 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 be Rs 2,31,000, and 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 the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dr. Ambedkar 15th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 15th 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 registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the current market conditions as per the government’s assessment.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted fairly and transparently, based on the officially recognized values.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 15th Lane?

The current guideline value of Dr. Ambedkar 15th 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, reflecting an overall increase of 120% over the years.

What is the stamp duty on property in Dr. Ambedkar 15th Lane?

The stamp duty on property in Dr. Ambedkar 15th Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the guideline values of other streets in Velachery?

Other streets in Velachery have a guideline value of Rs 3,300 per sq.ft as of 2024, including Dr. Ambedkar 12th Lane, 13th Lane, 14th Lane, 16th Lane, 17th Lane, and 18th Lane.