Guideline Value for Dr. Ambedkar 63rd Lane

Dr. Ambedkar 63rd Lane guideline value

The current guideline value of Dr. Ambedkar 63rd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. It is classified as Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 63rd Lane has changed

The guideline value for Dr. Ambedkar 63rd Lane has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,500 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, and there was no change from 2012 to 2023. However, in 2023, the value remained at Rs 3,000 per sq.ft, before rising to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The register has no 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 have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Dr. Ambedkar 63rd Lane's guideline value is below this median.

• Dr. Ambedkar 62nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 64th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 61st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 65th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 60th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 66th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 63rd 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. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar 63rd Lane?

The Sub Registrar Office that covers Dr. Ambedkar 63rd 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 further assistance.

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

The guideline value is a key factor in determining the stamp duty and registration fees when buying or selling property in Velachery. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives due revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government collects taxes on properties at their market value, as reflected in the guideline value.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 63rd Lane?

The current guideline value of Dr. Ambedkar 63rd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since its first recorded figure in 2007, the guideline value has changed from Rs 1,500 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 120% over the years.

What is the land classification for Dr. Ambedkar 63rd Lane?

Dr. Ambedkar 63rd Lane is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this lane?

The Velacheri Sub Registrar Office covers Dr. Ambedkar 63rd Lane and 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 higher of the guideline value or the sale price of the property. It is typically charged at 7%, along with a registration fee of 2% of the guideline value.