Guideline Value for TNHB 13th Street

TNHB 13th Street guideline value

The current guideline value of TNHB 13th Street in Velachery village, under the Velacheri SRO, is Rs 4,950 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of TNHB 13th Street has changed

The guideline value for TNHB 13th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,800 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2023, marking a 150% rise. The most recent revision in 2024 saw a further increase to Rs 4,950 per sq.ft, reflecting a 10% change from the previous year.

There are no figures available for the years 2002, 2003, 2012, and 2017 in the register for this street. Overall, from the 2007 revision to the current 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 guideline value in this area is Rs 4,400 per sq.ft, making the guideline value of TNHB 13th Street above the median.

• TNHB 13th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 13th Street (Alias) A.L. Mudali 2nd Street: Rs 3,850 per sq.ft (2024)
• TNHB 12th Street: Rs 4,950 per sq.ft (2024)
• TNHB 14th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 12th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 15th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 13th 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 be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling 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.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers TNHB 13th Street?

The TNHB 13th Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process 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 revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs involved in the transaction. Buyers and sellers should ensure that the sale price is aligned with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of TNHB 13th Street?

The current guideline value of TNHB 13th 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, representing a total increase of 175%.

What is the land classification for TNHB 13th Street?

TNHB 13th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in TNHB 13th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would amount to Rs 4,45,500.

Which office handles the registration for TNHB 13th Street?

The Velacheri Sub Registrar Office handles the registration for TNHB 13th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.