Guideline Value for TNHB 12th Lane

TNHB 12th Lane guideline value

The current guideline value of TNHB 12th Lane in Velachery village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of TNHB 12th Lane has changed

Since the 2007 revision, the guideline value for TNHB 12th Lane has seen significant changes. In 2007, the guideline value was Rs 1,500 per sq.ft. It increased to Rs 4,000 per sq.ft in the 2023 revision, marking a 167% rise. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of TNHB 12th Lane.

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

Stamp duty and registration fee for property in TNHB 12th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. Duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 12th Lane?

The TNHB 12th Lane 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 details.

How the guideline value is used when you buy or sell in Velachery

The guideline value is an important factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of TNHB 12th Lane?

The current guideline value of TNHB 12th Lane is Rs 4,400 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 1,500 per sq.ft to Rs 4,400 per sq.ft in 2024, representing a total increase of 193% over the years.

What is the land classification for TNHB 12th Lane?

TNHB 12th Lane is classified as Residential Class II Type - II, indicating its use for residential purposes.

Where can I find the registration office for TNHB 12th Lane?

The Velacheri Sub Registrar Office, which covers TNHB 12th Lane, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in TNHB 12th Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.