Guideline Value for Dr. Ambedkar 76th Lane

Dr. Ambedkar 76th Lane guideline value

The current guideline value for Dr. Ambedkar 76th 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 76th Lane has changed

The guideline value for Dr. Ambedkar 76th Lane has seen several revisions over the years. The earliest recorded revision is from 2007, with a value of Rs 1,500 per sq.ft. This figure increased to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value surged again to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 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 have 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. The guideline value for Dr. Ambedkar 76th Lane is below this median.

• Dr. Ambedkar 75th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 77th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 74th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 78th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 73rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 79th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 76th 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 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar 76th Lane?

The Sub Registrar Office covering Dr. Ambedkar 76th 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 in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 76th Lane?

The current guideline value of Dr. Ambedkar 76th 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, reflecting an overall increase of 120% over the years.

What is the land classification for Dr. Ambedkar 76th Lane?

Dr. Ambedkar 76th Lane is classified as Residential Class III Type - I.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Dr. Ambedkar 76th Lane located?

The Sub Registrar Office for Dr. Ambedkar 76th Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.