Guideline Value for TNHB 12th Street

TNHB 12th Street guideline value

The current guideline value of TNHB 12th Street in Velachery village is Rs 4,950 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of TNHB 12th Street has changed

In the 2007 revision, the guideline value was set at 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 latest revision in 2024 further increased the value to Rs 4,950 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%. It is important to note that the register has no figures for the years 2002, 2003, 2012, 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 of TNHB 12th Street is above this median.

• TNHB 12th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 13th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 11th Street: Rs 4,950 per sq.ft (2024)
• TNHB 13th Street: Rs 4,950 per sq.ft (2024)
• TNHB 11th Lane: Rs 4,950 per sq.ft (2024)
• TNHB 13th Street (Alias) A.L. Mudali 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 12th 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, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers TNHB 12th Street?

The TNHB 12th 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 details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Velachery. It determines the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of TNHB 12th Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 1,800 per sq.ft to Rs 4,950 per sq.ft in 2024, marking a total increase of 175%.

What is the land classification of TNHB 12th Street?

TNHB 12th Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

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

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

How is stamp duty calculated for properties in TNHB 12th 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 are based on the property's value.