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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar Nagar 156th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar Nagar 156th 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 ₹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 156th Lane

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Dr. Ambedkar Nagar 156th Lane guideline value

The current guideline value for Dr. Ambedkar Nagar 156th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street 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 Nagar 156th Lane has changed

The guideline value for Dr. Ambedkar Nagar 156th Lane has seen several revisions over the years. Starting from the 2007 revision, 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 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The 2023 revision set the guideline value at Rs 3,000 per sq.ft, which was then revised to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, the guideline values vary widely, with figures ranging from Rs 3,300 to Rs 13,200 per sq.ft as of the 2024 revision. The median value for the area is Rs 4,400 per sq.ft, placing Dr. Ambedkar Nagar 156th Lane's 2024 figure below this median.

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 156th 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, totaling Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 156th Lane?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 156th 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 an essential factor in the registration process when buying or selling property in Velachery. It serves as the minimum value for which properties can be registered, ensuring that the transaction is documented at a recognized value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the agreed sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Dr. Ambedkar Nagar 156th Lane?

The current guideline value for Dr. Ambedkar Nagar 156th 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Dr. Ambedkar Nagar 156th Lane?

The Velacheri Sub Registrar Office handles property registrations for Dr. Ambedkar Nagar 156th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Dr. Ambedkar Nagar 156th Lane?

Dr. Ambedkar Nagar 156th Lane is classified as Residential Class III Type - I, indicating its use for residential purposes.