Guideline Value for Dr. Ambedkar Nagar 127th Lane

Dr. Ambedkar Nagar 127th Lane guideline value

The current guideline value for Dr. Ambedkar Nagar 127th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the jurisdiction of the Velacheri SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dr. Ambedkar Nagar 127th Lane has changed

Over the years, the guideline value for Dr. Ambedkar Nagar 127th Lane has seen several revisions. The oldest recorded revision is from 2007, where the value was Rs 1,500 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 shows a significant increase to Rs 3,300 per sq.ft, which is a 64% rise from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 120%.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. The most recent figure reflects the ongoing adjustments in the guideline value register.

Guideline values in Velachery

In Velachery, 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, which indicates that the value for Dr. Ambedkar Nagar 127th Lane is below the median.

• Dr. Ambedkar Nagar 126th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 128th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 125th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 129th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 124th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 12th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 127th 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, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Therefore, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that 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 Nagar 127th Lane?

The Dr. Ambedkar Nagar 127th Lane falls under 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 critical factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transaction.

During the registration process, the authorities will refer to the guideline value to ensure that the transaction is recorded at a price that reflects the current market conditions. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value for Dr. Ambedkar Nagar 127th Lane?

The current guideline value for Dr. Ambedkar Nagar 127th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 1,500 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 120%.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Dr. Ambedkar Nagar 127th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, indicating that the value for Dr. Ambedkar Nagar 127th Lane is below this median.