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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 71st Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 71st 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 N/A
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 71st Lane

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Dr. Ambedkar 71st Lane guideline value

The current guideline value of Dr. Ambedkar 71st Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 71st Lane has changed

The guideline value for Dr. Ambedkar 71st Lane has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From the 2012 revision to the 2024 revision, the overall change in guideline value is also 10%. Notably, there are no figures available for the years 2002, 2003, 2007, and 2017 in the register 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 for these streets is Rs 4,400 per sq.ft, which means that the 2024 figure for Dr. Ambedkar 71st Lane is below the median.

Stamp duty and registration fee for property in Dr. Ambedkar 71st 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 71st Lane?

The Sub Registrar Office that covers Dr. Ambedkar 71st 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 the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is assessed alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value for Dr. Ambedkar 71st Lane?

The current guideline value for Dr. Ambedkar 71st 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 increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the land classification for Dr. Ambedkar 71st Lane?

The land classification for Dr. Ambedkar 71st Lane is Residential Class III Type - I.

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

The Sub Registrar Office for Dr. Ambedkar 71st Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.