Guideline Value for Dr. Ambedkar 96th Lane

Dr. Ambedkar 96th Lane guideline value

The current guideline value of Dr. Ambedkar 96th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This lane 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 96th Lane has changed

The guideline value for Dr. Ambedkar 96th Lane has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,500 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, but then it decreased to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, 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 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. Dr. Ambedkar 96th Lane's 2024 figure is below this median.

• Dr. Ambedkar 95th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 97th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 94th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 98th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 93rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 99th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 96th 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, making the total 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 on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 96th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 96th 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 aspect of property transactions in Velachery. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the buyer and seller must consider this value to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. It is essential for buyers and sellers to be aware of these values to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 96th Lane?

The current guideline value of Dr. Ambedkar 96th 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 120% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Dr. Ambedkar 96th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Dr. Ambedkar 96th Lane?

The land classification for Dr. Ambedkar 96th Lane is Residential Class III Type - I, indicating its suitability for residential purposes.