Guideline Value for Dr. Ambedkar Nagar 25th Cross Street

Dr. Ambedkar Nagar 25th Cross Street guideline value

The current guideline value of Dr. Ambedkar Nagar 25th Cross Street 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 25th Cross Street has changed

Over the years, the guideline value of Dr. Ambedkar Nagar 25th Cross Street has undergone several revisions. The earliest recorded value is from 2007, which was Rs 1,500 per sq.ft. This figure saw a significant increase to Rs 3,000 per sq.ft in 2012, maintaining the same value through 2023. The latest revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2007 to 2012, the value increased by 100%, and from 2012 to 2024, it rose by 10%. Overall, there has been a 120% increase in the guideline value from 2007 to 2024. The register does not contain figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Velachery

In Velachery, the guideline values vary significantly, with 2,691 streets under the Velacheri SRO carrying values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in the area is Rs 4,400 per sq.ft, placing Dr. Ambedkar Nagar 25th Cross Street below this median.

• Dr. Ambedkar Nagar 24th Cross Street: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 23rd Cross Street: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 2nd 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 21st Cross Street: Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Nagar 2nd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar Nagar 25th Cross Street

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, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Ambedkar Nagar 25th Cross Street?

The Sub Registrar Office that covers Dr. Ambedkar Nagar 25th Cross Street is 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 plays a crucial role in the registration process when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is set by the government and reflects the minimum value at which property transactions are registered.

When a property is sold, the buyer and seller must ensure that the sale price is not lower than the guideline value, as the registration fees and stamp duty are calculated based on the higher of the two. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar Nagar 25th Cross Street?

The current guideline value of Dr. Ambedkar Nagar 25th 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, reflecting a 120% increase over this period.

What is the land classification of Dr. Ambedkar Nagar 25th Cross Street?

Dr. Ambedkar Nagar 25th Cross Street is classified as Residential Class III Type - I.

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

The Velacheri Sub Registrar Office covers Dr. Ambedkar Nagar 25th Cross Street, 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 calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.