Guideline Value for Dr. Ambedkar 66th Lane

Dr. Ambedkar 66th Lane guideline value

The current guideline value of Dr. Ambedkar 66th 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 66th Lane has changed

The guideline value for Dr. Ambedkar 66th Lane has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. This marked a significant change of 100%. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, where it was raised to Rs 3,300 per sq.ft, reflecting a 10% increase.

Looking at the overall changes, from 2007 to 2024, the guideline value has increased by 120%. Notably, there are no figures available 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 with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing Dr. Ambedkar 66th Lane's 2024 figure below this median.

• Dr. Ambedkar 65th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 67th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 64th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 68th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 63rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 69th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 66th 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 and the sale price.

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

Which Sub Registrar Office covers Dr. Ambedkar 66th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 66th 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 in Velachery. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property. The guideline value ensures that the government collects appropriate taxes based on the property's worth.

When registering a property, the buyer must pay stamp duty calculated on the higher of the guideline value or the sale price. This ensures that all property transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 66th Lane?

The current guideline value of Dr. Ambedkar 66th 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, with significant revisions occurring in 2012 and 2023.

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 Sub Registrar Office is responsible for Dr. Ambedkar 66th Lane?

The Velacheri Sub Registrar Office is responsible for Dr. Ambedkar 66th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Dr. Ambedkar 66th Lane?

Dr. Ambedkar 66th Lane is classified as Residential Class III Type - I, indicating its suitability for residential development.