Guideline Value for Dr. Ambedkar 74th Lane

Dr. Ambedkar 74th Lane guideline value

The current guideline value of Dr. Ambedkar 74th 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 74th Lane has changed

Over the years, the guideline value for Dr. Ambedkar 74th Lane has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft.

The changes between revisions indicate a significant increase from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024. 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 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, placing Dr. Ambedkar 74th Lane's 2024 figure below that median.

• Dr. Ambedkar 73rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 75th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 72nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 76th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 71st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 77th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 74th 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. Together, these fees would total 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 74th Lane?

The Sub Registrar Office covering Dr. Ambedkar 74th 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 is a crucial factor 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, both parties must be aware of the guideline value, as it can influence negotiations and the final sale price. It is advisable to consult the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 74th Lane?

The current guideline value of Dr. Ambedkar 74th 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Dr. Ambedkar 74th Lane?

Dr. Ambedkar 74th Lane is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for this property?

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 for Dr. Ambedkar 74th Lane located?

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