Guideline Value for TNHB 37th Lane

TNHB 37th Lane guideline value

The current guideline value of TNHB 37th Lane, located in Velachery village under the Velacheri SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of TNHB 37th Lane has changed

Over the years, the guideline value for TNHB 37th Lane has seen several revisions. The earliest recorded figure is from 2007, which 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, between 2012 and 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The most recent revision in 2024 has 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 recorded figures for the years 2023, 2003, and 2002 for TNHB 37th Lane. Overall, from the 2007 revision to the current 2024 revision, there has been a total increase of 193% in the guideline value.

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 value across these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of TNHB 37th Lane.

• TNHB 36th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 38th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 39th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 35th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 34th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 37th 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, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 37th Lane?

The TNHB 37th Lane 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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of TNHB 37th Lane?

The current guideline value of TNHB 37th 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 are the stamp duty and registration fees for TNHB 37th Lane?

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

Which Sub Registrar Office covers TNHB 37th Lane?

The Velacheri Sub Registrar Office covers TNHB 37th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 37th Lane?

TNHB 37th Lane is classified as Residential Class II Type - II, indicating its designated use for residential purposes.