Guideline Value for TNHB 10th Street

TNHB 10th Street guideline value

The current guideline value of TNHB 10th Street is Rs 4,950 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 II Type - I.

How the guideline value of TNHB 10th Street has changed

The guideline value for TNHB 10th Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 1,800 per sq.ft. This figure saw a significant increase to Rs 4,500 per sq.ft in the 2023 revision, marking a 150% rise. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for this street in the revisions of 2017, 2012, 2003, and 2002. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%.

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. The median value for these streets is Rs 4,400 per sq.ft, placing TNHB 10th Street's guideline value above the median.

• TNHB 10th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 11th Lane: Rs 4,950 per sq.ft (2024)
• TNHB 101st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 11th Street: Rs 4,950 per sq.ft (2024)
• TNHB 100th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 12th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 10th Street?

The TNHB 10th Street falls under 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 property transactions can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When a property is sold, the guideline value helps ascertain the applicable stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of TNHB 10th Street?

The current guideline value of TNHB 10th Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,800 per sq.ft to Rs 4,950 per sq.ft in 2024, which is an overall increase of 175%.

What is the land classification for TNHB 10th Street?

TNHB 10th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in TNHB 10th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable, ensuring that the total fees reflect the property's value accurately.