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Guideline Value

Corporate

Guideline Value for Dr. Ambedkar Nagar 198th Lane

₹3300/sq.ft.

The guideline value for Dr. Ambedkar Nagar 198th 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 N/A
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
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 198th Lane

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Dr. Ambedkar Nagar 198th Lane guideline value

The current guideline value of Dr. Ambedkar Nagar 198th 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 198th Lane has changed

Over the years, the guideline value of Dr. Ambedkar Nagar 198th Lane has seen significant changes. The 2007 revision recorded a value of Rs 1,500 per sq.ft. This increased to Rs 2,010 per sq.ft in the 2017 revision, marking a 34% rise. The 2023 revision then set the value at Rs 3,000 per sq.ft, which was a substantial 49% increase from the previous revision. The latest 2024 revision saw another increase of 10%, bringing the current guideline value to Rs 3,300 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, 2012, and the register does not provide any data for these years regarding this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, positioning Dr. Ambedkar Nagar 198th Lane below this median value.

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 198th 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. Together, these fees would total Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 198th Lane?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 198th 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 is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the buyer and seller must refer to the guideline value to ensure compliance with the registration requirements. The stamp duty is calculated based on the higher of the guideline value and the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar 198th Lane?

The current guideline value of Dr. Ambedkar Nagar 198th 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 120% over this period.

What is the classification of land in Dr. Ambedkar Nagar 198th Lane?

The land classification for Dr. Ambedkar Nagar 198th Lane is Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office covers Dr. Ambedkar Nagar 198th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

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