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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar Nagar 179th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar Nagar 179th 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 N/A
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 179th Lane

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Dr. Ambedkar Nagar 179th Lane guideline value

The current guideline value of Dr. Ambedkar Nagar 179th 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 179th Lane has changed

The guideline value for Dr. Ambedkar Nagar 179th Lane has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 3,000 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 2,010 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. The 2012 revision had a guideline value of Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 value for these streets is Rs 4,400 per sq.ft, making the 2024 figure for Dr. Ambedkar Nagar 179th Lane below the median.

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 179th 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, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 179th Lane?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 179th 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. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

This system helps maintain transparency in property transactions, as the guideline value is regularly updated to reflect current market conditions. Buyers and sellers should be aware of the guideline value for their specific property to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar 179th Lane?

The current guideline value of Dr. Ambedkar Nagar 179th 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 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, with several revisions in between. The most recent increase was 10% from 2023 to 2024.

What is the classification of land in Dr. Ambedkar Nagar 179th Lane?

The land classification for Dr. Ambedkar Nagar 179th Lane is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Dr. Ambedkar Nagar 179th Lane?

The Sub Registrar Office covering Dr. Ambedkar Nagar 179th Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Dr. Ambedkar Nagar 179th Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.