Guideline Value for Dr. Ambedkar 85th Lane

Dr. Ambedkar 85th Lane guideline value

The current guideline value of Dr. Ambedkar 85th 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 85th Lane has changed

The guideline value for Dr. Ambedkar 85th Lane has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, representing a 100% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a significant increase of 64% from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street.

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 85th Lane is below this median.

• Dr. Ambedkar 84th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 86th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 83rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 87th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 82nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 88th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 85th 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. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 85th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 85th 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 critical 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 registered, the authorities will assess the higher of the guideline value or the sale price to calculate the applicable duties. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 85th Lane?

The current guideline value of Dr. Ambedkar 85th 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 is the land classification for Dr. Ambedkar 85th Lane?

Dr. Ambedkar 85th Lane is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and registration fees at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 2,97,000 in fees.

Which office handles registrations for Dr. Ambedkar 85th Lane?

The Velacheri Sub Registrar Office handles registrations for Dr. Ambedkar 85th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.