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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 61st Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 61st 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 61st Lane

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Dr. Ambedkar 61st Lane guideline value

The current guideline value of Dr. Ambedkar 61st 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 the land classification is Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 61st Lane has changed

The guideline value for Dr. Ambedkar 61st Lane has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, there were no figures available for the years 2002, 2003, and 2017.

From 2012 to 2023, the guideline value remained unchanged at Rs 3,000 per sq.ft. In 2024, the value increased to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values 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, placing Dr. Ambedkar 61st Lane's 2024 figure below that median.

Stamp duty and registration fee for property in Dr. Ambedkar 61st Lane

For a 1,000 sq.ft plot at the current rate, the guideline value is 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. Please 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 details.

Which Sub Registrar Office covers Dr. Ambedkar 61st Lane?

The Sub Registrar Office that covers Dr. Ambedkar 61st 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 property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Velachery, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any legal issues during the registration process. The guideline value reflects the government's assessment of property values in the area.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 61st Lane?

The current guideline value of Dr. Ambedkar 61st 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 a total increase of 120% over the years.

What is the stamp duty for property in Dr. Ambedkar 61st Lane?

The stamp duty for property in Dr. Ambedkar 61st Lane is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 2,31,000.

Which Sub Registrar Office covers Dr. Ambedkar 61st Lane?

The Velacheri Sub Registrar Office covers Dr. Ambedkar 61st Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees during property transactions in Velachery.