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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 93rd Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 93rd 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 93rd Lane

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Dr. Ambedkar 93rd Lane guideline value

The current guideline value of Dr. Ambedkar 93rd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 93rd Lane has changed

The guideline value for Dr. Ambedkar 93rd Lane has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2012 revision, marking a 100% rise. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 3,000 per sq.ft in the 2023 revision, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing 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 the 2007 revision to the 2024 revision, the guideline value has increased by 120%.

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. The median value for these streets is Rs 4,400 per sq.ft, indicating that the 2024 guideline value for Dr. Ambedkar 93rd Lane is below this median.

Stamp duty and registration fee for property in Dr. Ambedkar 93rd Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, 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 the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Dr. Ambedkar 93rd Lane?

The Sub Registrar Office that covers Dr. Ambedkar 93rd 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 when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 93rd Lane?

The current guideline value of Dr. Ambedkar 93rd 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 93rd Lane?

The land classification for Dr. Ambedkar 93rd Lane is Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office covers Dr. Ambedkar 93rd Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.