Guideline Value for Dr. Ambedkar 25th Lane

Dr. Ambedkar 25th Lane guideline value

The current guideline value of Dr. Ambedkar 25th 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 25th Lane has changed

The guideline value for Dr. Ambedkar 25th Lane has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,500 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 100% increase. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. The register does not have figures for the years 2023, 2017, 2003, and 2002 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 value among these streets is Rs 4,400 per sq.ft, placing Dr. Ambedkar 25th Lane below this median.

• Dr. Ambedkar 24th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 26th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 23rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 27th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 22nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 28th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 25th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 cost for these fees 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Dr. Ambedkar 25th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 25th 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 plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When registering a property, the guideline value is used to ensure that the transaction is accurately reflected in official records. This helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 25th Lane?

The current guideline value of Dr. Ambedkar 25th 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing a 120% increase overall.

What are the stamp duty and registration fees for property in this lane?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Dr. Ambedkar 25th Lane?

The Velacheri Sub Registrar Office handles registrations for Dr. Ambedkar 25th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is accurately recorded and helps maintain transparency in the real estate market.