Guideline Value for Dr. Ambedkar 94th Lane

Dr. Ambedkar 94th Lane guideline value

The current guideline value of Dr. Ambedkar 94th 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 94th Lane has changed

Over the years, the guideline value of Dr. Ambedkar 94th Lane has seen several revisions. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2012 revision, marking a 100% rise. However, the value decreased by 33% to Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 3,000 per sq.ft, followed by another increase of 10% to the current rate of Rs 3,300 per sq.ft in the 2024 revision.

The changes from 2017 to 2023 resulted in a 49% increase. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. There are no figures available for the years 2002 and 2003 in the register 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. Dr. Ambedkar 94th Lane's 2024 guideline value is below this median.

• Dr. Ambedkar 91st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 92nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 93rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 94th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 95th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 96th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 97th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 94th 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, while the registration fee at 2% would be Rs 66,000, leading to a total of 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 details.

Which Sub Registrar Office covers Dr. Ambedkar 94th Lane?

The Dr. Ambedkar 94th Lane is covered by 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 of a property, ensuring that the transaction is recorded accurately and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that both the buyer and seller are aware of the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 94th Lane?

The current guideline value of Dr. Ambedkar 94th 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, showing an overall increase of 120% over the years.

What is the land classification of Dr. Ambedkar 94th Lane?

Dr. Ambedkar 94th Lane is classified as Residential Class III Type - I.

What is the stamp duty for property in Dr. Ambedkar 94th Lane?

The stamp duty for property in Dr. Ambedkar 94th Lane is 7% of the guideline value, which amounts to Rs 2,31,000 for a 1,000 sq.ft plot at the current rate.

Where is the Velacheri Sub Registrar Office located?

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