Guideline Value for Dr. Ambedkar 50th Lane

Dr. Ambedkar 50th Lane guideline value

The current guideline value of Dr. Ambedkar 50th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This lane is located in Velachery village under the Velacheri SRO, classified as Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 50th Lane has changed

Over the years, the guideline value of Dr. Ambedkar 50th Lane has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 1,500 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, there was no change from 2012 to 2023, where the value remained at Rs 3,000 per sq.ft. The latest revision in 2024 has raised the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value is 120%. Notably, there are no recorded figures for the years 2002, 2003, and 2017 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, indicating that Dr. Ambedkar 50th Lane's 2024 figure is below this median.

• Dr. Ambedkar 49th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 51st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 48th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 52nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 47th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 53rd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 50th 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, totaling 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 50th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 50th 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 when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value helps in assessing the legal value of the transaction, providing a standardized measure for taxation purposes. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 50th Lane?

The current guideline value of Dr. Ambedkar 50th 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 an overall increase of 120% over these years.

What is the classification of land in Dr. Ambedkar 50th Lane?

Dr. Ambedkar 50th Lane is classified as Residential Class III Type - I under the Velacheri SRO.

Where can I find the Sub Registrar Office for Dr. Ambedkar 50th Lane?

The Velacheri Sub Registrar Office, which covers Dr. Ambedkar 50th Lane, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Velachery?

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%.