Guideline Value for Dr. Ambedkar 99th Lane

Dr. Ambedkar 99th Lane guideline value

The current guideline value for Dr. Ambedkar 99th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This lane 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 99th Lane has changed

The guideline value has undergone several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2012 to 2024, there has been a 10% increase. This illustrates the fluctuations in the guideline value over the years, reflecting changes in the property market.

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 99th Lane's 2024 figure is below this median.

• Dr. Ambedkar 98th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 9th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 97th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 96th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 95th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar 94th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 99th 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 essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Dr. Ambedkar 99th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 99th 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 is a crucial factor when registering a property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both parties are aware of the financial implications of the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 99th Lane?

The current guideline value of Dr. Ambedkar 99th 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 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Dr. Ambedkar 99th Lane?

Dr. Ambedkar 99th Lane is classified as Residential Class III Type - I.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Dr. Ambedkar 99th Lane is charged at 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Dr. Ambedkar 99th Lane is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.