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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 78th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 78th Lane in Velachery village (Velacheri SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Dr. Ambedkar 78th Lane

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Dr. Ambedkar 78th Lane guideline value

The current guideline value of Dr. Ambedkar 78th 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 78th Lane has changed

The guideline value for Dr. Ambedkar 78th Lane has seen several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, representing a 100% rise. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a reduction of 33%. The value then rose significantly to Rs 3,000 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures 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 with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Dr. Ambedkar 78th Lane's 2024 figure below this median.

Stamp duty and registration fee for property in Dr. Ambedkar 78th Lane

For a 1,000 sq.ft plot at the current rate, the 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 duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 78th Lane?

The Sub Registrar Office covering Dr. Ambedkar 78th 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 when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher value is used for calculating the applicable duties and fees. This ensures that the registration reflects a fair value for the property being transacted.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 78th Lane?

The current guideline value of Dr. Ambedkar 78th 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 a total increase of 120% over the years.

What is the stamp duty rate for property in Dr. Ambedkar 78th Lane?

The stamp duty rate for property in Dr. Ambedkar 78th Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

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

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery with the same guideline value of Rs 3,300 per sq.ft in 2024 include Dr. Ambedkar 77th Lane, Dr. Ambedkar 79th Lane, Dr. Ambedkar 76th Lane, Dr. Ambedkar 80th Lane, Dr. Ambedkar 75th Lane, and Dr. Ambedkar 81st Lane.