Guideline Value for TNHB 39th Lane

TNHB 39th Lane guideline value

The current guideline value of TNHB 39th 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 39th Lane has changed

The guideline value for TNHB 39th 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 167% rise. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The most recent revision in 2024 saw the value rise to Rs 4,400 per sq.ft, reflecting a 64% increase from the 2017 figure.

It is important to note that there are no figures available for TNHB 39th Lane 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 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 for these streets is Rs 4,400 per sq.ft, which is the same as the current guideline value for TNHB 39th Lane.

• TNHB 38th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 37th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Cross Street: Rs 4,950 per sq.ft (2024)
• TNHB 36th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 39th 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. Together, the total cost for stamp duty and registration fee would be 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers TNHB 39th Lane?

The TNHB 39th Lane falls under 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 critical factor when registering 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 a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This value is essential for compliance with local regulations and for ensuring a smooth transaction process.

Frequently asked questions

What is the current guideline value of TNHB 39th Lane?

The current guideline value of TNHB 39th 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 for TNHB 39th Lane?

TNHB 39th Lane is classified as Residential Class II Type - II under the Velacheri SRO.

Where can I find the registration office for TNHB 39th Lane?

The registration office for TNHB 39th Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in TNHB 39th Lane?

Stamp duty is calculated based on 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.