Guideline Value for TNHB 22nd Lane

TNHB 22nd Lane guideline value

The current guideline value of TNHB 22nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of TNHB 22nd Lane has changed

The guideline value of TNHB 22nd Lane has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this figure dropped to Rs 2,680 per sq.ft in 2017. The 2023 revision saw a rise to Rs 4,000 per sq.ft, followed by the latest increase to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 193%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

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 is Rs 4,400 per sq.ft, which is equal to the current guideline value of TNHB 22nd Lane.

• TNHB 21st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 23rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 20th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 24th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 1st Street: Rs 4,950 per sq.ft (2024)
• TNHB 25th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 22nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to 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 or the sale price.

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

Which Sub Registrar Office covers TNHB 22nd Lane?

The TNHB 22nd Lane is covered by 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 details.

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

The guideline value is a crucial factor during property registration in Velachery. It helps determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is bought or sold, the guideline value serves as a reference point to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of TNHB 22nd Lane?

The current guideline value of TNHB 22nd 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 significantly, increasing from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 193%.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery, such as TNHB 21st Lane, TNHB 23rd Lane, TNHB 20th Lane, TNHB 24th Lane, and TNHB 25th Lane, also have a guideline value of Rs 4,400 per sq.ft for 2024.

Where can I find the Velacheri Sub Registrar Office?

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 22nd Lane?

Stamp duty for properties in TNHB 22nd Lane is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 3,08,000 based on the current guideline value.