Guideline Value for TNHB 11th Street

TNHB 11th Street guideline value

The current guideline value of TNHB 11th 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 11th Street has changed

The guideline value for TNHB 11th Street has seen significant changes over the years. The oldest recorded figure is from the 2007 revision, which was Rs 1,800 per sq.ft. This increased to Rs 4,500 per sq.ft in the 2023 revision, marking a 150% increase. The latest revision in 2024 has 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 the years 2002, 2003, 2007, 2012, and 2017 for TNHB 11th Street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Velachery

In Velachery, there are 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, placing TNHB 11th Street's 2024 value above this median.

• TNHB 11th Lane: Rs 4,950 per sq.ft (2024)
• TNHB 12th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 10th Street: Rs 4,950 per sq.ft (2024)
• TNHB 12th Street: Rs 4,950 per sq.ft (2024)
• TNHB 10th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 13th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 11th Street

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

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 11th Street?

The TNHB 11th Street is covered by 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 figure used during the registration 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 government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it directly impacts the costs involved in the registration process. Buyers must be aware that the stamp duty is calculated based on the higher value between the guideline and the sale price.

Frequently asked questions

What is the current guideline value of TNHB 11th Street?

The current guideline value of TNHB 11th 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, marking an overall increase of 175%.

What is the registration office for TNHB 11th Street?

The registration office for TNHB 11th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty and registration fees for properties in TNHB 11th Street?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees payable during a transaction.