Guideline Value for Dr. Ambedkar Nagar 172st Lane

Dr. Ambedkar Nagar 172st Lane guideline value

The current guideline value for Dr. Ambedkar Nagar 172st Lane is Rs 3,300 per sq.ft. 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 172st Lane has changed

Since the 2007 revision, the guideline value for Dr. Ambedkar Nagar 172st Lane has seen significant changes. 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, from 2012 to 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 64% increase from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that 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 that carry 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, indicating that Dr. Ambedkar Nagar 172st Lane's 2024 figure is below this median.

• Dr. Ambedkar Nagar 171st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 173rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 170th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 174th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 16th Cross Street: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 175th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 172st 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 the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 172st Lane?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 172st 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 when buying or selling property in Velachery. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the transaction.

When the property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value for Dr. Ambedkar Nagar 172st Lane?

The current guideline value for Dr. Ambedkar Nagar 172st Lane is Rs 3,300 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly 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 this period.

What is the land classification for Dr. Ambedkar Nagar 172st Lane?

Dr. Ambedkar Nagar 172st Lane is classified as Residential Class III Type - I.

Where can I find the Velacheri Sub Registrar Office?

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

How is the stamp duty calculated for properties in Velachery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 33,00,000, the stamp duty would be calculated at 7% of this amount.