Guideline Value for Dr. Ambedkar 77th Lane

Dr. Ambedkar 77th Lane guideline value

The current guideline value for Dr. Ambedkar 77th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 77th Lane has changed

The guideline value for Dr. Ambedkar 77th Lane has undergone several revisions over the years. The earliest recorded value was Rs 1,500 per sq.ft in 2007, which increased to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 120%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

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. The median value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value for Dr. Ambedkar 77th Lane is below this median.

• Dr. Ambedkar 76th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 78th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 75th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 79th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 74th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 80th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 77th 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, 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 or the sale price.

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

Which Sub Registrar Office covers Dr. Ambedkar 77th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 77th 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 during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. The registration office uses the guideline value to assess the appropriate fees based on the property's classification and location.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 77th Lane?

The current guideline value of Dr. Ambedkar 77th 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, representing an overall increase of 120% over this period.

What is the land classification of Dr. Ambedkar 77th Lane?

Dr. Ambedkar 77th 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.

Which office handles registrations for Dr. Ambedkar 77th Lane?

The Velacheri Sub Registrar Office handles registrations for Dr. Ambedkar 77th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.