Guideline Value for TNHB 29th Lane

TNHB 29th Lane guideline value

The current guideline value of TNHB 29th 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 29th Lane has changed

Over the years, the guideline value of TNHB 29th Lane has undergone several revisions. The earliest recorded revision was in 2007, where the value was Rs 1,500 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in 2012, marking a change of 167%. The value remained unchanged at Rs 4,000 per sq.ft until the next revision in 2023, where it increased to Rs 4,400 per sq.ft, a rise of 10%. The current guideline value reflects an overall increase of 193% from the 2007 figure.

There are no recorded figures for the years 2002, 2003, and 2017 for this street. The most recent revision, effective from 1 July 2024, has set the guideline value at Rs 4,400 per sq.ft.

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 for these streets is Rs 4,400 per sq.ft, making TNHB 29th Lane's current figure equal to this median.

• TNHB 28th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 27th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 26th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Main Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 29th 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 amount to Rs 44,00,000. The stamp duty at 7% would be 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.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers TNHB 29th Lane?

The TNHB 29th 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 information.

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

The guideline value is an essential factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties comply with legal requirements.

It is crucial for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of the transaction. This value serves as a benchmark for property pricing and is regularly updated to reflect market conditions.

Frequently asked questions

What is the current guideline value of TNHB 29th Lane?

The current guideline value of TNHB 29th 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 193%.

What is the land classification for TNHB 29th Lane?

TNHB 29th Lane is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for TNHB 29th Lane?

The Velacheri Sub Registrar Office covers TNHB 29th Lane and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in TNHB 29th Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.