Guideline Value for Dr. Ambedkar 65th Lane

Dr. Ambedkar 65th Lane guideline value

The current guideline value of Dr. Ambedkar 65th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This lane is located in Velachery village under the Velacheri SRO, classified as Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 65th Lane has changed

The guideline value for Dr. Ambedkar 65th Lane has undergone several revisions over the years. In 2007, the value was set at Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. This marked a significant rise of 100%. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, where it was again set at Rs 3,000 per sq.ft. In the latest 2024 revision, the guideline value increased by 10% to Rs 3,300 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2017 for this street. 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 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 65th Lane's 2024 guideline value is below this median.

• Dr. Ambedkar 64th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 66th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 63rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 67th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 62nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 68th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 65th 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 65th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 65th 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 details.

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

The guideline value plays a crucial role in property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers should be aware that the guideline value serves as a baseline for these calculations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 65th Lane?

The current guideline value of Dr. Ambedkar 65th 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, reflecting a total increase of 120% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Dr. Ambedkar 65th Lane?

The Velacheri Sub Registrar Office handles registrations for Dr. Ambedkar 65th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Dr. Ambedkar 65th Lane?

Dr. Ambedkar 65th Lane is classified as Residential Class III Type - I, indicating its suitability for residential development.