Guideline Value for TNHB 34th Lane

TNHB 34th Lane guideline value

The current guideline value of TNHB 34th 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 34th Lane has changed

The guideline value of TNHB 34th Lane has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. The most recent revision in 2024 has brought the value back up to Rs 4,400 per sq.ft, reflecting a substantial increase of 64% from the 2017 figure.

It is important to note that there are no recorded figures for this street in the years 2023, 2003, and 2002. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Velachery

In Velachery, there are a total of 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 guideline value is Rs 4,400 per sq.ft, which is equal to the current value of TNHB 34th Lane.

• TNHB 33rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 35th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 32nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 31st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 36th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 30th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 34th 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, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers TNHB 34th Lane?

The TNHB 34th 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions during the purchase process.

Frequently asked questions

What is the current guideline value of TNHB 34th Lane?

The current guideline value of TNHB 34th 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 34th Lane?

TNHB 34th Lane is classified as Residential Class II Type - II.

Where is the Velacheri Sub Registrar Office located?

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 properties in TNHB 34th Lane?

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