Guideline Value for Dr. Ambedkar Nagar 193rd Lane

Dr. Ambedkar Nagar 193rd Lane guideline value

The current guideline value for Dr. Ambedkar Nagar 193rd 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 193rd Lane has changed

The guideline value for Dr. Ambedkar Nagar 193rd Lane has seen several revisions over the years. 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% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rose significantly to Rs 3,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 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 with a guideline value range from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Dr. Ambedkar Nagar 193rd Lane's 2024 figure of Rs 3,300 per sq.ft is below this median.

• Dr. Ambedkar Nagar 192nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 194th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 191st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 195th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 190th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 196th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 193rd 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. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 193rd Lane?

The Sub Registrar Office covering Dr. Ambedkar Nagar 193rd 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 property transactions in Velachery. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair. Buyers and sellers must consider this value when negotiating property prices.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar 193rd Lane?

The current guideline value of Dr. Ambedkar Nagar 193rd 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 property 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 Sub Registrar Office covers this street?

The Velacheri Sub Registrar Office covers Dr. Ambedkar Nagar 193rd Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Dr. Ambedkar Nagar 193rd Lane?

Dr. Ambedkar Nagar 193rd Lane is classified as Residential Class III Type - I.