Guideline Value for TNHB 14th Lane

TNHB 14th Lane guideline value

The current guideline value of TNHB 14th Lane is Rs 4,400 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 - II.

How the guideline value of TNHB 14th Lane has changed

Over the years, the guideline value of TNHB 14th Lane has undergone several revisions. The earliest recorded revision was in 2007, where the value was Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 167% rise. However, in 2017, the value decreased to Rs 2,680 per sq.ft, representing a decline of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, and most recently, it has risen to Rs 4,400 per sq.ft as of the 2024 revision, a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. The overall change from the 2007 revision to the 2024 revision shows an increase of 193% in the guideline value.

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 is Rs 4,400 per sq.ft, which is equal to the current value of TNHB 14th Lane.

• TNHB 13th Street (Alias) A.L. Mudali 2nd Street: Rs 3,850 per sq.ft (2024)
• TNHB 15th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 13th Street: Rs 4,950 per sq.ft (2024)
• TNHB 16th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 13th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 17th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 14th Lane

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

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers TNHB 14th Lane?

The TNHB 14th Lane falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can 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 when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a value that reflects the market conditions, thereby facilitating a transparent process for both buyers and sellers.

Frequently asked questions

What is the current guideline value of TNHB 14th Lane?

The current guideline value of TNHB 14th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 193% over the years.

What is the stamp duty rate for property transactions in TNHB 14th Lane?

The stamp duty rate for property transactions in TNHB 14th Lane is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for TNHB 14th Lane?

The Sub Registrar Office for TNHB 14th Lane is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the other guideline values in Velachery?

Other streets in Velachery have varying guideline values, with rates ranging from Rs 3,300 to Rs 13,200 per sq.ft, and the median value being Rs 4,400 per sq.ft, which is the same as TNHB 14th Lane.