Guideline Value for TNHB 16th Lane

TNHB 16th Lane guideline value

The current guideline value of TNHB 16th 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 16th Lane has changed

The guideline value for TNHB 16th Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a substantial increase of 64% from the 2017 figure.

It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a guideline value for 2024, 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 the same as the current value for TNHB 16th Lane.

• TNHB 15th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 17th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 14th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 18th 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 19th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 16th Lane

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

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

Which Sub Registrar Office covers TNHB 16th Lane?

The TNHB 16th Lane falls under 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 is a crucial factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value helps to calculate the stamp duty and registration fees that need to be paid at the time of registration.

Frequently asked questions

What is the current guideline value of TNHB 16th Lane?

The current guideline value of TNHB 16th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How 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 an overall increase of 193%.

What is the land classification of TNHB 16th Lane?

TNHB 16th Lane is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in TNHB 16th Lane?

Stamp duty for properties in TNHB 16th Lane is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.