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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar Nagar 150th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar Nagar 150th 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 N/A
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
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 Nagar 150th Lane

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Dr. Ambedkar Nagar 150th Lane guideline value

The current guideline value of Dr. Ambedkar Nagar 150th 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 150th Lane has changed

The guideline value for Dr. Ambedkar Nagar 150th Lane has seen several revisions over the years. The oldest recorded figure is from 2007, which was Rs 1,500 per sq.ft. This value then doubled to Rs 3,000 per sq.ft in 2012. There was no revision figure available for the years 2002, 2003, and 2017. In 2023, the guideline value remained at Rs 3,000 per sq.ft, before increasing to Rs 3,300 per sq.ft in 2024, marking a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. The changes between the revisions are as follows: from 2007 to 2012, the increase was 100%; from 2012 to 2023, there was no change; and from 2023 to 2024, the increase was 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Dr. Ambedkar Nagar 150th Lane's 2024 figure below this median.

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 150th 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, bringing the total to Rs 2,97,000. It is important to note that 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 150th Lane?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 150th Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For further details, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It serves as a reference point for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, thus impacting the total cost involved in the transaction.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar 150th Lane?

The current guideline value of Dr. Ambedkar Nagar 150th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,500 per sq.ft to Rs 3,300 per sq.ft in 2024. The most significant change occurred between 2007 and 2012 when it doubled to Rs 3,000 per sq.ft.

What is the stamp duty on a property in Dr. Ambedkar Nagar 150th Lane?

The stamp duty on a property in Dr. Ambedkar Nagar 150th Lane is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 2,31,000 based on the current guideline value.

Which office handles property registrations for Dr. Ambedkar Nagar 150th Lane?

The Velacheri Sub Registrar Office handles property registrations for Dr. Ambedkar Nagar 150th Lane. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Dr. Ambedkar Nagar 150th Lane?

The land classification for Dr. Ambedkar Nagar 150th Lane is Residential Class III Type - I, indicating its suitability for residential development.