Guideline Value for Dr. Ambedkar Nagar 169th Lane

Dr. Ambedkar Nagar 169th Lane guideline value

The current guideline value of Dr. Ambedkar Nagar 169th 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 169th Lane has changed

Over the years, the guideline value of Dr. Ambedkar Nagar 169th 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, from 2012 to 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The most recent revision in 2024 shows a significant increase to Rs 3,300 per sq.ft, reflecting a 64% rise from the 2017 figure.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

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 for Dr. Ambedkar Nagar 169th Lane is below this median.

• Dr. Ambedkar Nagar 168th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 16th Cross Street: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 167th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 170th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 166th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 171st Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 169th 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, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please 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 details.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 169th Lane?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 169th 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 plays a crucial role in the registration process of property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with the regulations set by the Registration Department.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar 169th Lane?

The current guideline value of Dr. Ambedkar Nagar 169th 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 land classification for Dr. Ambedkar Nagar 169th Lane?

Dr. Ambedkar Nagar 169th Lane is classified as Residential Class III Type - I.

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.

Where is the Sub Registrar Office located for Dr. Ambedkar Nagar 169th Lane?

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