Guideline Value for TNHB 27th Lane

TNHB 27th Lane guideline value

The current guideline value of TNHB 27th 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 27th Lane has changed

The guideline value for TNHB 27th 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, marking a 167% increase. However, the value then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33% from the previous revision. The guideline value rose sharply again to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 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 have 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 equal to the current value of TNHB 27th Lane.

• TNHB 26th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 28th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 25th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 29th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 24th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Avenue: Rs 6,050 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 27th 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, bringing the total to 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.

You can also use the stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers TNHB 27th Lane?

The Sub Registrar Office that covers TNHB 27th Lane is 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 property transactions, as it helps determine the official value of the property for registration purposes. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

It is essential to check the current guideline value before proceeding with any property transaction, as it can significantly impact the overall costs involved in the buying or selling process.

Frequently asked questions

What is the current guideline value of TNHB 27th Lane?

The current guideline value of TNHB 27th 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, reflecting an overall increase of 193% over the years.

What are the stamp duty and registration fees for a property in TNHB 27th Lane?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 3,96,000.

Which office handles the registration for TNHB 27th Lane?

The Velacheri Sub Registrar Office handles the registration for TNHB 27th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the official value of a property for registration, impacting the stamp duty and registration fees payable during a transaction.