Guideline Value for Dr. Ambedkar 19th Lane

Dr. Ambedkar 19th Lane guideline value

The current guideline value for Dr. Ambedkar 19th 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 19th Lane has changed

In the 2007 revision, the guideline value was Rs 1,500 per sq.ft. This figure saw a significant increase in the 2012 revision, where it doubled to Rs 3,000 per sq.ft. The value remained unchanged through the 2023 revision, still at Rs 3,000 per sq.ft. However, in the latest 2024 revision, the guideline value increased by 10% to Rs 3,300 per sq.ft.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 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. The median guideline value in this area is Rs 4,400 per sq.ft, placing Dr. Ambedkar 19th Lane's 2024 figure below that median.

• Dr. Ambedkar 18th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 17th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 20th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 16th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 21st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 15th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 19th 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, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dr. Ambedkar 19th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 19th 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 price at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are based on the guideline value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Dr. Ambedkar 19th Lane?

The current guideline value for Dr. Ambedkar 19th 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 seen several revisions, increasing from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 120% since 2007.

What are the stamp duty and registration fees in Velachery?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total of Rs 2,97,000 in fees.

Which office handles registrations for Dr. Ambedkar 19th Lane?

The Velacheri Sub Registrar Office handles registrations for Dr. Ambedkar 19th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Dr. Ambedkar 19th Lane?

Dr. Ambedkar 19th Lane is classified as Residential Class III Type - I, indicating its suitability for residential purposes.