Guideline Value for Dr. Ambedkar 40th Lane

Dr. Ambedkar 40th Lane guideline value

The current guideline value of Dr. Ambedkar 40th 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 40th Lane has changed

The guideline value for Dr. Ambedkar 40th Lane has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a 100% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a significant increase of 64% from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that there are no figures available for the years 2002, 2003, and 2023 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 for these streets is Rs 4,400 per sq.ft, placing the 2024 guideline value for Dr. Ambedkar 40th Lane below this median.

• Dr. Ambedkar 39th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 41st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 38th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 42nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 37th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 43rd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 40th 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 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 essential 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 details.

Which Sub Registrar Office covers Dr. Ambedkar 40th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 40th 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 of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 40th Lane?

The current guideline value of Dr. Ambedkar 40th 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, marking a total increase of 120% over the years.

What is the land classification for Dr. Ambedkar 40th Lane?

Dr. Ambedkar 40th Lane is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Dr. Ambedkar 40th Lane?

The Velacheri Sub Registrar Office covers Dr. Ambedkar 40th Lane and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Dr. Ambedkar 40th Lane?

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