Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 83rd Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 83rd 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 83rd Lane

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Dr. Ambedkar 83rd Lane guideline value

The current guideline value of Dr. Ambedkar 83rd 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 it falls under the Residential Class III Type - I land classification.

How the guideline value of Dr. Ambedkar 83rd Lane has changed

The guideline value for Dr. Ambedkar 83rd Lane has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,500 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, but 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 currently stands at Rs 3,300 per sq.ft as of the 2024 revision.

In terms of percentage changes, the value increased by 100% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 120%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are a total of 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 guideline value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value of Dr. Ambedkar 83rd Lane is below this median.

Stamp duty and registration fee for property in Dr. Ambedkar 83rd 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, calculated at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be 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 detailed calculations.

Which Sub Registrar Office covers Dr. Ambedkar 83rd Lane?

The Sub Registrar Office that covers Dr. Ambedkar 83rd Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Velachery. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the government receives a fair amount based on the property’s assessed value.

When registering a property, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 83rd Lane?

The current guideline value of Dr. Ambedkar 83rd 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 several times, starting from Rs 1,500 per sq.ft in 2007, rising to Rs 3,000 in 2012, then decreasing to Rs 2,010 in 2017, and increasing to Rs 3,000 in 2023, before reaching Rs 3,300 in 2024.

What is the land classification of Dr. Ambedkar 83rd Lane?

Dr. Ambedkar 83rd Lane is classified under Residential Class III Type - I, indicating its use for residential purposes.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft property at the current guideline value, the total fees amount to Rs 2,97,000.

Which office handles registrations for Dr. Ambedkar 83rd Lane?

The Velacheri Sub Registrar Office handles registrations for Dr. Ambedkar 83rd Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.