Guideline Value for TNHB 28th Lane

TNHB 28th Lane guideline value

The current guideline value of TNHB 28th 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 28th Lane has changed

The guideline value for TNHB 28th Lane has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 167% rise. However, the value then dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value climbed again to Rs 4,000 per sq.ft in 2023, and most recently to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 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 guideline value is Rs 4,400 per sq.ft, which matches the current value of TNHB 28th Lane.

• TNHB 27th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 29th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 26th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 25th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 28th 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. Please 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 details.

Which Sub Registrar Office covers TNHB 28th Lane?

The TNHB 28th Lane 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 in the registration process for property transactions in Velachery. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of TNHB 28th Lane?

The current guideline value of TNHB 28th 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 is the stamp duty for property in TNHB 28th Lane?

The stamp duty for property in TNHB 28th Lane is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 3,08,000.

Which Sub Registrar Office covers TNHB 28th Lane?

The Velacheri Sub Registrar Office covers TNHB 28th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of TNHB 28th Lane?

TNHB 28th Lane is classified as Residential Class II Type - II, indicating its suitability for residential purposes.