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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 21st Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 21st Lane in Velachery village (Velacheri SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Dr. Ambedkar 21st Lane

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Dr. Ambedkar 21st Lane guideline value

The current guideline value of Dr. Ambedkar 21st 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 falls under the Residential Class III Type - I land classification.

How the guideline value of Dr. Ambedkar 21st Lane has changed

The guideline value for Dr. Ambedkar 21st Lane has experienced several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 1,500 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, marking a 100% rise. The most recent revision in 2024 saw another increase to Rs 3,300 per sq.ft, reflecting a 10% change from the previous year. There are no figures available for the revisions in 2012, 2017, 2003, and 2002 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. This consistent rise in the guideline value indicates changes in the property landscape over the years.

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. The guideline value of Dr. Ambedkar 21st Lane is below this median, indicating its relative positioning within the area.

Stamp duty and registration fee for property in Dr. Ambedkar 21st 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, totaling 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 21st Lane?

The Sub Registrar Office that covers Dr. Ambedkar 21st 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 the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the fees are based on a standardized value, which helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 21st Lane?

The current guideline value of Dr. Ambedkar 21st Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing a total increase of 120% over this period.

What is the stamp duty for property in Dr. Ambedkar 21st Lane?

The stamp duty for property in Dr. Ambedkar 21st Lane is calculated at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 33,00,000, the stamp duty would amount to Rs 2,31,000.

Which Sub Registrar Office handles registrations for this area?

The Velacheri Sub Registrar Office handles registrations for Dr. Ambedkar 21st Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the other streets with the same guideline value in Velachery?

Other streets in Velachery with the same guideline value of Rs 3,300 per sq.ft include Dr. Ambedkar 20th Lane, Dr. Ambedkar 22nd Lane, Dr. Ambedkar 23rd Lane, Dr. Ambedkar 19th Lane, Dr. Ambedkar 24th Lane, and Dr. Ambedkar 18th Lane.