Guideline Value for Dr. Ambedkar Nagar 194th Lane

Dr. Ambedkar Nagar 194th Lane guideline value

The current guideline value for Dr. Ambedkar Nagar 194th 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 194th Lane has changed

The guideline value for Dr. Ambedkar Nagar 194th 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% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% drop. The value rose significantly to Rs 3,000 per sq.ft in 2023, and most recently, it has been revised to Rs 3,300 per sq.ft in 2024, indicating a 10% increase.

Notably, the register has no figures for the years 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 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Dr. Ambedkar Nagar 194th Lane's 2024 figure below that median.

• Dr. Ambedkar Nagar 193rd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 195th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 192nd Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 196th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 191st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 197th Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 194th 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, bringing the total cost for these fees to Rs 2,97,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 194th Lane?

The Dr. Ambedkar Nagar 194th Lane falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a critical factor during property registration in Velachery. It determines the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential to understand that the final registration amount will be based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar 194th Lane?

The current guideline value of Dr. Ambedkar Nagar 194th 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 stamp duty for property in Dr. Ambedkar Nagar 194th Lane?

The stamp duty for property in Dr. Ambedkar Nagar 194th Lane is calculated at 7% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Dr. Ambedkar Nagar 194th Lane?

The Velacheri Sub Registrar Office handles the registration for Dr. Ambedkar Nagar 194th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Dr. Ambedkar Nagar 194th Lane?

Dr. Ambedkar Nagar 194th Lane is classified as Residential Class III Type - I.