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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 58th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 58th Lane in Velachery village (Velacheri SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Dr. Ambedkar 58th Lane

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Dr. Ambedkar 58th Lane guideline value

The current guideline value of Dr. Ambedkar 58th 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 58th Lane has changed

The guideline value of Dr. Ambedkar 58th Lane has seen several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 1,500 per sq.ft. This value saw a significant increase in 2012, remaining at Rs 3,000 per sq.ft. The guideline value did not change from 2012 to 2023, maintaining the Rs 3,000 per sq.ft figure. However, in the 2024 revision, the guideline value rose to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 4,400 per sq.ft, which means that the 2024 figure for Dr. Ambedkar 58th Lane is below the median.

Stamp duty and registration fee for property in Dr. Ambedkar 58th 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, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be 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 58th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 58th 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 when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers must be aware of the guideline value to ensure that they are paying a fair price for the property they are interested in.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to navigate the registration process effectively.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 58th Lane?

The current guideline value of Dr. Ambedkar 58th 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, representing a total increase of 120% over the years.

What are the guideline values of other streets in Velachery?

Other streets in Velachery, such as Dr. Ambedkar 57th Lane and Dr. Ambedkar 59th Lane, also have a guideline value of Rs 3,300 per sq.ft as of 2024.

How is the stamp duty calculated for properties in Dr. Ambedkar 58th Lane?

The stamp duty for properties in Dr. Ambedkar 58th Lane is calculated at 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration of properties in Dr. Ambedkar 58th Lane?

The registration of properties in Dr. Ambedkar 58th Lane is handled by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.