Guideline Value for Dr. Ambedkar 75th Lane

Dr. Ambedkar 75th Lane guideline value

The current guideline value for Dr. Ambedkar 75th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 75th Lane has changed

The guideline value for Dr. Ambedkar 75th Lane has seen several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, the value dropped to Rs 2,010 per sq.ft in the 2017 revision, a decrease of 33%. Following that, the value surged by 49% to Rs 3,000 per sq.ft in 2023, and then increased by 10% to the current rate of Rs 3,300 per sq.ft in 2024.

The revisions for the years 2002 and 2003 do not have figures recorded 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 that carry 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 75th Lane's 2024 figure is below this median.

• Dr. Ambedkar 74th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 76th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 73rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 77th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 72nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 78th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 75th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total cost for these fees to 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.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Dr. Ambedkar 75th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 75th 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It determines the minimum value at which the property must be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It helps in assessing the value of the property and ensures transparency in transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 75th Lane?

The current guideline value of Dr. Ambedkar 75th 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 significantly, rising from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 120%.

What is the land classification for Dr. Ambedkar 75th Lane?

The land classification for Dr. Ambedkar 75th Lane is Residential Class III Type - I.

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

The Velacheri Sub Registrar Office covers Dr. Ambedkar 75th Lane and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for property in Dr. Ambedkar 75th Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total stamp duty and registration fee of Rs 2,97,000.