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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 59th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 59th 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 59th Lane

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Dr. Ambedkar 59th Lane guideline value

The current guideline value of Dr. Ambedkar 59th 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 59th Lane has changed

Over the years, the guideline value of Dr. Ambedkar 59th Lane has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 1,500 per sq.ft. This amount increased significantly to Rs 3,000 per sq.ft in 2012, marking a 100% rise. The value remained unchanged at Rs 3,000 per sq.ft until the next revision in 2023, where it increased to Rs 3,300 per sq.ft. This represents a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 120%.

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 value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value for Dr. Ambedkar 59th Lane is below this median.

Stamp duty and registration fee for property in Dr. Ambedkar 59th 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Dr. Ambedkar 59th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 59th 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 an essential factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registers.

When a property is sold, the guideline value helps to establish a fair price for the transaction, which is crucial for both the buyer and seller. This value is used to calculate the applicable fees, ensuring compliance with local regulations and facilitating a smooth transfer of ownership.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 59th Lane?

The current guideline value of Dr. Ambedkar 59th 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% over these years.

What are the other streets with the same guideline value in Velachery?

Other streets in Velachery with the same guideline value of Rs 3,300 per sq.ft in 2024 include Dr. Ambedkar 58th Lane, Dr. Ambedkar 60th Lane, Dr. Ambedkar 57th Lane, Dr. Ambedkar 61st Lane, Dr. Ambedkar 56th Lane, and Dr. Ambedkar 62nd Lane.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7%. This is applied to the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for Dr. Ambedkar 59th Lane?

The Sub Registrar Office covering Dr. Ambedkar 59th Lane is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.