Guideline Value for Dr. Ambedkar 8th Lane

Dr. Ambedkar 8th Lane guideline value

The current guideline value of Dr. Ambedkar 8th 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 8th Lane has changed

The guideline value for Dr. Ambedkar 8th Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, in 2017, the value decreased to Rs 2,010 per sq.ft. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, representing a 64% increase from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The 2012 revision saw a decrease of 33% from the previous value, while the 2007 to 2012 period experienced a 100% increase.

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, with a median value of Rs 4,400 per sq.ft. The guideline value for Dr. Ambedkar 8th Lane is below this median.

• Dr. Ambedkar 89th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 90th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 88th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 91st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 87th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 92nd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 8th 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. Together, the total fees would be 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 8th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 8th 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 in the registration process of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected. Buyers and sellers must be aware of this value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 8th Lane?

The current guideline value of Dr. Ambedkar 8th 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 significantly 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 this period.

What is the stamp duty rate for properties in Dr. Ambedkar 8th Lane?

The stamp duty rate for properties in Dr. Ambedkar 8th Lane is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Dr. Ambedkar 8th Lane?

The Velacheri Sub Registrar Office is responsible for Dr. Ambedkar 8th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, with Dr. Ambedkar 8th Lane's value of Rs 3,300 per sq.ft being below this median.