Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 98th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 98th 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 N/A
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 98th Lane

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Dr. Ambedkar 98th Lane guideline value

The current guideline value for Dr. Ambedkar 98th 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 98th Lane has changed

The guideline value for Dr. Ambedkar 98th Lane has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, an increase from Rs 3,000 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 2,010 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023. The value had decreased from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. The 2012 revision was Rs 3,000 per sq.ft, and the 2017 revision was Rs 2,010 per sq.ft, followed by the 2023 revision at Rs 3,000 per sq.ft, and finally the 2024 revision at Rs 3,300 per sq.ft.

Guideline values in Velachery

In Velachery village, there are a total of 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 guideline value in this area is Rs 4,400 per sq.ft, indicating that the guideline value for Dr. Ambedkar 98th Lane is below this median.

Stamp duty and registration fee for property in Dr. Ambedkar 98th 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 cost to 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 calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 98th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 98th Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the authorities will assess the guideline value to ensure that the correct fees are collected. This helps maintain transparency and fairness in property transactions within the Velachery region.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 98th Lane?

The current guideline value of Dr. Ambedkar 98th 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 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017, which shows a 49% increase from 2017 to 2023.

What is the land classification for Dr. Ambedkar 98th Lane?

The land classification for Dr. Ambedkar 98th Lane is Residential Class III Type - I.

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 office handles registrations for Dr. Ambedkar 98th Lane?

The Velacheri Sub Registrar Office handles registrations for Dr. Ambedkar 98th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.