Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 64th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 64th 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 64th Lane

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Dr. Ambedkar 64th Lane guideline value

The current guideline value of Dr. Ambedkar 64th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 64th Lane has changed

The guideline value for Dr. Ambedkar 64th Lane has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. Prior to that, the value remained unchanged from 2012 to 2023, with the 2012 revision also at Rs 3,000 per sq.ft. The 2007 revision marked a significant increase, where the value was set at Rs 1,500 per sq.ft, representing a 100% rise to the 2012 figure.

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

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. The median value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value of Dr. Ambedkar 64th Lane is below this median.

Stamp duty and registration fee for property in Dr. Ambedkar 64th 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, calculated at 7%, amounts to Rs 2,31,000, and the registration fee at 2% is 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 and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 64th Lane?

The Sub Registrar Office covering Dr. Ambedkar 64th 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 during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that transactions are recorded at a fair value, preventing undervaluation. This helps maintain transparency in the real estate market and ensures that the government receives appropriate revenue through stamp duty.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 64th Lane?

The current guideline value of Dr. Ambedkar 64th 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 an overall increase of 120%.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers Dr. Ambedkar 64th Lane?

The Velacheri Sub Registrar Office covers Dr. Ambedkar 64th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value of a property for calculating stamp duty and registration fees, ensuring fair valuation and transparency in property transactions.