Guideline Value for Dr. Ambedkar 22nd Lane

Dr. Ambedkar 22nd Lane guideline value

The current guideline value for Dr. Ambedkar 22nd Lane is Rs 3,300 per sq.ft. 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 22nd Lane has changed

The guideline value for Dr. Ambedkar 22nd Lane has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,500 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a 100% rise. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, where it increased to Rs 3,300 per sq.ft, reflecting a 10% increase. The current rate is effective from 1 July 2024.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO carrying 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 for Dr. Ambedkar 22nd Lane is below this median.

• Dr. Ambedkar 21st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 23rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 20th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 24th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 25th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 19th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 22nd 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 or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 22nd Lane?

The Sub Registrar Office that covers Dr. Ambedkar 22nd 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 details.

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 the basis for calculating stamp duty and registration fees, ensuring that the property is valued appropriately for legal transactions.

When a property is registered, the guideline value helps determine the minimum value at which the property can be sold. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 22nd Lane?

The current guideline value of Dr. Ambedkar 22nd 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in Velachery?

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

What is the significance of the guideline value?

The guideline value is significant as it determines the minimum value for property transactions and is used to calculate stamp duty and registration fees during the buying or selling process.