Guideline Value for TNHB 15th Lane

TNHB 15th Lane guideline value

The current guideline value of TNHB 15th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, falling under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of TNHB 15th Lane has changed

The guideline value for TNHB 15th Lane has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, it decreased by 33% to Rs 2,680 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 4,000 per sq.ft, and the latest revision in 2024 has further increased it by 10% to Rs 4,400 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 193%. The changes between revisions include a 167% increase from 2007 to 2012, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

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 15th Lane.

• TNHB 14th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 16th 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 17th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 13th Street: Rs 4,950 per sq.ft (2024)
• TNHB 18th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 15th 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, making the total cost 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 the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers TNHB 15th Lane?

The Sub Registrar Office that covers TNHB 15th Lane is 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 plays a crucial role 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 stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value to avoid any discrepancies during the registration process. It is essential to ensure that the sale price is not lower than the guideline value to comply with the legal requirements.

Frequently asked questions

What is the current guideline value of TNHB 15th Lane?

The current guideline value of TNHB 15th 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 a significant increase over the years.

What is the land classification for TNHB 15th Lane?

TNHB 15th Lane is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for TNHB 15th Lane?

The Sub Registrar Office for TNHB 15th Lane 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 15th Lane?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.