Guideline Value for Dr. Ambedkar Nagar 130th Lane

Dr. Ambedkar Nagar 130th Lane guideline value

The current guideline value of Dr. Ambedkar Nagar 130th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street 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 Nagar 130th Lane has changed

The guideline value for Dr. Ambedkar Nagar 130th Lane has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, representing a decline of 33%. The value rose significantly to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in 2024, a change of 10%.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen 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. The guideline value of Dr. Ambedkar Nagar 130th Lane is below this median.

• Dr. Ambedkar Nagar 12th Cross Street: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 131st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 129th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 132nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 128th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 133rd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 130th 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 to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 130th Lane?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 130th 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 in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Dr. Ambedkar Nagar 130th Lane?

The current guideline value for Dr. Ambedkar Nagar 130th 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 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the stamp duty for properties in Dr. Ambedkar Nagar 130th Lane?

The stamp duty for properties in Dr. Ambedkar Nagar 130th Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Dr. Ambedkar Nagar 130th Lane?

The land classification for Dr. Ambedkar Nagar 130th Lane is Residential Class III Type - I.