Guideline Value for Dr. Ambedkar 26th Lane

Dr. Ambedkar 26th Lane guideline value

The current guideline value of Dr. Ambedkar 26th 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 26th Lane has changed

The guideline value for Dr. Ambedkar 26th Lane has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a 100% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 figure.

Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that the register has no figure for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Dr. Ambedkar 26th Lane's 2024 figure below that median.

• Dr. Ambedkar 25th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 27th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 24th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 28th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 23rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 29th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 26th 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, bringing the total to Rs 2,97,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Dr. Ambedkar 26th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 26th 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 property transactions in Velachery. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that property transactions are recorded at a fair value, reflecting the current market conditions.

When selling property, the guideline value helps both buyers and sellers understand the expected value of the property. It serves as a reference point during negotiations and ensures that all parties are aware of the legal implications of the sale.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 26th Lane?

The current guideline value of Dr. Ambedkar 26th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has changed from Rs 1,500 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 120% over the years.

What is the land classification for Dr. Ambedkar 26th Lane?

Dr. Ambedkar 26th Lane is classified as Residential Class III Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office, which covers Dr. Ambedkar 26th Lane, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.