Guideline Value for TNHB 38th Lane

TNHB 38th Lane guideline value

The current guideline value of TNHB 38th 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 38th Lane has changed

The guideline value for TNHB 38th Lane has undergone several revisions over the years. 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 167% rise. However, it then dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a substantial increase of 64% from the 2017 figure.

There are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%.

Guideline values in Velachery

In Velachery village, 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 guideline value is Rs 4,400 per sq.ft, which is the same as the current value for TNHB 38th Lane.

• TNHB 37th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 39th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 36th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 3rd Cross Street: Rs 4,950 per sq.ft (2024)
• TNHB 35th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 38th 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 the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers TNHB 38th Lane?

The TNHB 38th 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 a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must be aware that the guideline value will influence the overall costs associated with property transactions.

When a property is sold or purchased, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of TNHB 38th Lane?

The current guideline value of TNHB 38th 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 several times, from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 193% since 2007.

What are the stamp duty and registration fees for property in TNHB 38th Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for TNHB 38th Lane?

The Velacheri Sub Registrar Office handles registrations for TNHB 38th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 38th Lane?

TNHB 38th Lane is classified as Residential Class II Type - II, indicating its designation for residential use within the area.