Guideline Value for Dr. Ambedkar Nagar 168th Lane

Dr. Ambedkar Nagar 168th Lane guideline value

The current guideline value for Dr. Ambedkar Nagar 168th Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, classified as Residential Class III Type - I.

How the guideline value of Dr. Ambedkar Nagar 168th Lane has changed

The guideline value for Dr. Ambedkar Nagar 168th Lane has seen several revisions over the years. The earliest recorded value was Rs 1,500 per sq.ft in 2007, which increased to Rs 3,000 per sq.ft in 2012, marking a 100% increase. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%.

In the latest revision for 2024, the guideline value rose to Rs 3,300 per sq.ft, representing a significant increase of 64% from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 120%. The register has no figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a guideline value for 2024 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, placing Dr. Ambedkar Nagar 168th Lane below this median.

• Dr. Ambedkar Nagar 167th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 169th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 166th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 16th Cross Street: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 165th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 170th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 168th 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, totaling Rs 2,97,000. 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 168th Lane?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 168th 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 during property registration in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar 168th Lane?

The current guideline value of Dr. Ambedkar Nagar 168th 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, marking an overall increase of 120% over the years.

What is the land classification for Dr. Ambedkar Nagar 168th Lane?

Dr. Ambedkar Nagar 168th Lane is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.