Guideline Value for Dr. Ambedkar 72nd Lane

Dr. Ambedkar 72nd Lane guideline value

The current guideline value of Dr. Ambedkar 72nd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 72nd Lane has changed

The guideline value for Dr. Ambedkar 72nd Lane has seen several revisions over the years. The most recent revision in 2024 set the guideline 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. The 2012 revision also recorded a guideline value of Rs 3,000 per sq.ft, indicating no change from 2012 to 2023.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Dr. Ambedkar 72nd Lane's 2024 figure below the median.

• Dr. Ambedkar 71st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 73rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 70th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 74th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 69th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 75th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 72nd 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, while the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. Stamp 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 detailed calculations.

Which Sub Registrar Office covers Dr. Ambedkar 72nd Lane?

The Sub Registrar Office that covers Dr. Ambedkar 72nd 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 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 the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees, and it is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 72nd Lane?

The current guideline value of Dr. Ambedkar 72nd 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 increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. There was no change from 2012 to 2023, and the overall increase from 2012 to 2024 is 10%.

What is the land classification of Dr. Ambedkar 72nd Lane?

Dr. Ambedkar 72nd Lane is classified as Residential Class III Type - I.

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.

Where is the Sub Registrar Office located for this street?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.