Guideline Value for Dr. Ambedkar 79th Lane

Dr. Ambedkar 79th Lane guideline value

The current guideline value of Dr. Ambedkar 79th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This lane 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 79th Lane has changed

The guideline value for Dr. Ambedkar 79th Lane has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, it saw a significant drop to Rs 2,010 per sq.ft in 2017. The 2023 revision marked an increase to Rs 3,000 per sq.ft, followed by the current rate of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery village, 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. The guideline value of Dr. Ambedkar 79th Lane is below this median.

• Dr. Ambedkar 78th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 80th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 77th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 81st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 76th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 82nd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 79th 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 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 or the sale price.

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

Which Sub Registrar Office covers Dr. Ambedkar 79th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 79th 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 is a crucial factor when registering 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 from stamp duties and registration fees.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 79th Lane?

The current guideline value of Dr. Ambedkar 79th 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, marking an overall increase of 120% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office is responsible for property registrations in Velachery?

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

What is the land classification for Dr. Ambedkar 79th Lane?

Dr. Ambedkar 79th Lane is classified as Residential Class III Type - I, which influences its guideline value and potential uses.