Guideline Value for TNHB 33rd Lane

TNHB 33rd Lane guideline value

The current guideline value of TNHB 33rd 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 falls under the Residential Class II Type - II land classification.

How the guideline value of TNHB 33rd Lane has changed

Over the years, the guideline value of TNHB 33rd Lane has seen several revisions. The earliest recorded figure was in 2007, when it was Rs 1,500 per sq.ft. This increased to Rs 4,000 per sq.ft in 2012, representing a significant rise of 167%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, marking a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is an increase of 64% from 2017.

It is important to note that there are no figures available for the years 2002, 2003, and 2023 in the register for this street. 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 carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which aligns with the 2024 figure for TNHB 33rd Lane. Below are other streets in Velachery:

• TNHB 32nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 34th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 31st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 35th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 30th 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 33rd 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, while the registration fee at 2% would be Rs 88,000, bringing the total costs together to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers TNHB 33rd Lane?

The TNHB 33rd Lane falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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 that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers should be aware that the guideline value may influence negotiations and the final sale price.

Frequently asked questions

What is the current guideline value of TNHB 33rd Lane?

The current guideline value of TNHB 33rd 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 land classification of TNHB 33rd Lane?

TNHB 33rd Lane falls under the Residential Class II Type - II land classification.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for property in TNHB 33rd Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 3,08,000.