Guideline Value for TNHB 2nd Main Road

TNHB 2nd Main Road guideline value

The current guideline value of TNHB 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of TNHB 2nd Main Road has changed

The guideline value for TNHB 2nd Main Road has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft by 2012, marking a rise of 178%. However, the value decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 has brought the guideline value to Rs 5,500 per sq.ft, an increase of 64% from the previous figure.

There are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing TNHB 2nd Main Road's 2024 figure above this median.

• TNHB 2nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Street: Rs 4,950 per sq.ft (2024)
• TNHB 2nd Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 30th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 29th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 31st Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 2nd Main Road

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers TNHB 2nd Main Road?

The TNHB 2nd Main Road falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit this link.

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

The guideline value is an important factor during property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value acts as a benchmark for calculating the applicable fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of TNHB 2nd Main Road?

The current guideline value of TNHB 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 206%.

What are the stamp duty and registration fees for properties on TNHB 2nd Main Road?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 4,95,000, calculated based on the guideline value of Rs 55,00,000.

Which office handles registrations for TNHB 2nd Main Road?

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

Where can I find more information about the guideline value?

More information about the guideline value can be accessed through the Registration Department's guideline value register (TNReginet).