Guideline Value for TNHB 1st Street

TNHB 1st Street guideline value

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

How the guideline value of TNHB 1st Street has changed

The guideline value for TNHB 1st Street has seen several revisions over the years. The earliest recorded value was Rs 1,800 per sq.ft in 2007. This figure increased significantly to Rs 4,500 per sq.ft in 2012, marking a 150% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. Following this, the value jumped to Rs 4,500 per sq.ft in 2023, and the most recent revision has set the value at Rs 4,950 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for TNHB 1st Street in the years 2002 and 2003. Overall, from 2007 to 2024, 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 value for these streets is Rs 4,400 per sq.ft, placing TNHB 1st Street's 2024 value above this median.

• TNHB 1st Main Road: Rs 5,500 per sq.ft (2024)
• TNHB 20th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 1st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 21st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 1st Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 22nd Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 1st 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers TNHB 1st Street?

The TNHB 1st Street falls under the jurisdiction of 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 when registering property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of TNHB 1st Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, with notable increases and decreases in between, including a 175% overall increase from 2007 to 2024.

What are the stamp duty and registration fees for TNHB 1st Street?

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

Which Sub Registrar Office covers TNHB 1st Street?

The Velacheri Sub Registrar Office covers TNHB 1st Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, with TNHB 1st Street's value of Rs 4,950 per sq.ft being above this median.