Guideline Value for Dr. Ambedkar 27th Lane

Dr. Ambedkar 27th Lane guideline value

The current guideline value of Dr. Ambedkar 27th 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 27th Lane has changed

The guideline value for Dr. Ambedkar 27th Lane has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which set the value at Rs 1,500 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a 100% rise. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous revision.

There are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Velachery

In Velachery village, 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 guideline value in this area is Rs 4,400 per sq.ft, placing Dr. Ambedkar 27th Lane's current figure below that median.

• Dr. Ambedkar 26th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 28th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 25th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 29th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 24th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 23rd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 27th 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 the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dr. Ambedkar 27th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 27th 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 in property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration of property transactions. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When purchasing or selling property, the guideline value helps establish a fair basis for the transaction. It is essential for both parties to understand the implications of the guideline value on the overall cost of the transaction, including taxes and fees.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 27th Lane?

The current guideline value of Dr. Ambedkar 27th 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, marking a total increase of 120% over this period.

What is the land classification for Dr. Ambedkar 27th Lane?

Dr. Ambedkar 27th Lane is classified as Residential Class III Type - I.

Which Sub Registrar Office covers this street?

The Velacheri Sub Registrar Office covers Dr. Ambedkar 27th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is 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, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.