Guideline Value for TNHB 31st Lane

TNHB 31st Lane guideline value

The current guideline value of TNHB 31st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of TNHB 31st Lane has changed

The guideline value for TNHB 31st Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a growth of 167%. However, the value saw a decline to Rs 2,680 per sq.ft in 2017, which was a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting an increase of 64% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for TNHB 31st Lane. 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 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, which is equal to the guideline value of TNHB 31st Lane.

• TNHB 30th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 32nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Street: Rs 4,950 per sq.ft (2024)
• TNHB 33rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 2nd Main Road: Rs 5,500 per sq.ft (2024)
• TNHB 34th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 31st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts 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 duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 31st Lane?

The TNHB 31st 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 important factor when registering a property in Velachery. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is documented at a value that reflects the current market conditions.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered, thus providing a transparent framework for real estate transactions.

Frequently asked questions

What is the current guideline value of TNHB 31st Lane?

The current guideline value of TNHB 31st 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 significantly, 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 are the stamp duty and registration fees for TNHB 31st Lane?

The stamp duty for a property valued at Rs 44,00,000 is Rs 3,08,000, and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for TNHB 31st Lane?

The Velacheri Sub Registrar Office handles registrations for TNHB 31st Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 31st Lane?

The land classification for TNHB 31st Lane is Residential Class II Type - II, which indicates its suitability for residential development.