Guideline Value

Corporate

Guideline Value for Dr. Ambedkar 9th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar 9th 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 9th Lane

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Dr. Ambedkar 9th Lane guideline value

The current guideline value of Dr. Ambedkar 9th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dr. Ambedkar 9th Lane has changed

The guideline value for Dr. Ambedkar 9th Lane has undergone several revisions over the years. In 2012, the guideline value was set at Rs 3,000 per sq.ft. This figure was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 3,000 per sq.ft. The most recent revision in 2024 saw another increase of 10%, resulting in the current guideline value of Rs 3,300 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 guideline value in this area is Rs 4,400 per sq.ft, indicating that Dr. Ambedkar 9th Lane's current value is below this median.

Stamp duty and registration fee for property in Dr. Ambedkar 9th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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 cost for these fees 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 9th Lane?

The Sub Registrar Office that covers Dr. Ambedkar 9th 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 factor when registering a property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When a property is sold, the guideline value is used to assess the transaction's value for tax purposes. This means that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 9th Lane?

The current guideline value of Dr. Ambedkar 9th 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, marking a 10% increase. From 2017 to 2023, it increased by 49%, while it decreased by 33% from 2012 to 2017.

What is the land classification for Dr. Ambedkar 9th Lane?

The land classification for Dr. Ambedkar 9th Lane is Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Dr. Ambedkar 9th Lane?

The registration office for Dr. Ambedkar 9th Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Velachery?

Stamp duty is calculated based on the higher of the guideline value or the actual sale price of the property. This ensures that the correct amount of duty is paid during the registration process.