Guideline Value for Dr. Ambedkar 42nd Lane

Dr. Ambedkar 42nd Lane guideline value

The current guideline value of Dr. Ambedkar 42nd 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 42nd Lane has changed

The guideline value for Dr. Ambedkar 42nd Lane has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The most recent revision in 2024 saw a significant increase to Rs 3,300 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 120%.

There are no figures available for the revisions in 2023, 2003, and 2002 for this street. The 2012 to 2017 revision saw a decrease of 33%, while the 2007 to 2012 revision experienced a substantial increase of 100%.

Guideline values in Velachery

In Velachery village, 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 guideline value for these streets is Rs 4,400 per sq.ft, indicating that the 2024 figure for Dr. Ambedkar 42nd Lane is below this median.

• Dr. Ambedkar 41st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 43rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 40th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 44th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 39th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 45th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 42nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 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 detailed calculations.

Which Sub Registrar Office covers Dr. Ambedkar 42nd Lane?

The Sub Registrar Office that covers Dr. Ambedkar 42nd 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 the property registration process. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in real estate transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 42nd Lane?

The current guideline value of Dr. Ambedkar 42nd 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, showing an overall increase of 120% over the years.

What are the stamp duty and registration fees for this area?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value.

Which Sub Registrar Office is responsible for Dr. Ambedkar 42nd Lane?

The Velacheri Sub Registrar Office is responsible for Dr. Ambedkar 42nd Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, with Dr. Ambedkar 42nd Lane's current value being below this median.