Guideline Value for TNHB 2nd Avenue

TNHB 2nd Avenue guideline value

The current guideline value of TNHB 2nd Avenue is Rs 6,050 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 I Type - II.

How the guideline value of TNHB 2nd Avenue has changed

Over the years, the guideline value of TNHB 2nd Avenue has undergone several revisions. The 2007 revision recorded a guideline value of Rs 1,800 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in the 2012 revision. However, the value saw a decrease of 33% to Rs 3,685 per sq.ft in the 2017 revision. The 2023 revision brought the value up to Rs 5,500 per sq.ft, and the most recent 2024 revision set it at Rs 6,050 per sq.ft, reflecting 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 236%.

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 2nd Avenue's 2024 figure above this median.

• TNHB 29th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 28th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Main Road: Rs 5,500 per sq.ft (2024)
• TNHB 27th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 2nd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 6,050 per sq.ft, the total guideline value would be Rs 60,50,000. The stamp duty at 7% would amount to Rs 4,23,500, and the registration fee at 2% would be Rs 1,21,000, bringing the total cost for these fees to Rs 5,44,500. It's 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 more details.

Which Sub Registrar Office covers TNHB 2nd Avenue?

The TNHB 2nd Avenue 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 of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of TNHB 2nd Avenue?

The current guideline value of TNHB 2nd Avenue is Rs 6,050 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 6,050 per sq.ft in 2024, marking an overall increase of 236% over the years.

What is the median guideline value in Velachery?

The median guideline value for the 2,691 streets in Velachery is Rs 4,400 per sq.ft, with TNHB 2nd Avenue's value being above this median.

What are the stamp duty and registration fees for TNHB 2nd Avenue?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 5,44,500 based on the current guideline value of Rs 60,50,000.

Which office handles registrations for TNHB 2nd Avenue?

The Velacheri Sub Registrar Office handles registrations for TNHB 2nd Avenue, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.