Guideline Value for Dr. Ambedkar 43rd Lane

Dr. Ambedkar 43rd Lane guideline value

The current guideline value of Dr. Ambedkar 43rd 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 43rd Lane has changed

The guideline value for Dr. Ambedkar 43rd Lane has seen several revisions over the years. The earliest recorded figure was Rs 1,500 per sq.ft in 2007, 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, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is 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 the register does not have figures for the years 2023, 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 guideline value for these streets is Rs 4,400 per sq.ft, which means that the guideline value of Dr. Ambedkar 43rd Lane is below this median.

• Dr. Ambedkar 42nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 44th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 41st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 45th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 40th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 46th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 43rd 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 charges to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar 43rd Lane?

The Sub Registrar Office that covers Dr. Ambedkar 43rd Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Velachery

The guideline value plays a crucial role in the property registration process in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the regulations set by the Registration Department.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 43rd Lane?

The current guideline value of Dr. Ambedkar 43rd 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 an overall increase of 120% across the years.

What is the land classification of Dr. Ambedkar 43rd Lane?

Dr. Ambedkar 43rd Lane is classified as Residential Class III Type - I.

What is the stamp duty rate for properties in Velachery?

The stamp duty rate for properties in Velachery is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Dr. Ambedkar 43rd Lane?

The Sub Registrar Office for Dr. Ambedkar 43rd Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.