Guideline Value for Dr. Ambedkar Nagar 21st Cross Street

Dr. Ambedkar Nagar 21st Cross Street guideline value

The current guideline value of Dr. Ambedkar Nagar 21st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dr. Ambedkar Nagar 21st Cross Street has changed

The guideline value for Dr. Ambedkar Nagar 21st Cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2012 revision. This figure remained unchanged through the 2023 revision. The most recent revision in 2024 increased the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. Notably, there are no figures available for the revisions in 2002, 2003, and 2017 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, with a median value of Rs 4,400 per sq.ft. The guideline value for Dr. Ambedkar Nagar 21st Cross Street is below this median.

• Dr. Ambedkar Nagar 20th Cross Street: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 22nd Cross Street: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 201st Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 23rd Cross Street: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 200th Lane: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 24th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 21st Cross Street

For a 1,000 sq.ft plot at the current rate, the 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, totaling 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 details.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 21st Cross Street?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 21st Cross Street 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 an essential factor in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees based on the property's value. Buyers should be aware that these fees are calculated on the higher of the guideline value or the sale price, which could affect their overall transaction costs.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar 21st Cross Street?

The current guideline value of Dr. Ambedkar Nagar 21st Cross Street 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%. The value remained unchanged at Rs 3,000 per sq.ft from 2012 to 2023.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery, such as Dr. Ambedkar Nagar 20th Cross Street, 22nd Cross Street, 201st Lane, 23rd Cross Street, 200th Lane, and 24th Cross Street, all have the same guideline value of Rs 3,300 per sq.ft for 2024.

What is the stamp duty rate for properties in Dr. Ambedkar Nagar 21st Cross Street?

The stamp duty rate for properties in Dr. Ambedkar Nagar 21st Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Dr. Ambedkar Nagar 21st Cross Street?

The Sub Registrar Office for Dr. Ambedkar Nagar 21st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.