Guideline Value for TNHB 3rd Cross Street

TNHB 3rd Cross Street guideline value

The current guideline value of TNHB 3rd Cross Street is Rs 4,950 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 - I.

How the guideline value of TNHB 3rd Cross Street has changed

The guideline value for TNHB 3rd Cross Street has seen several revisions over the years. The 2017 revision set the value at Rs 3,015 per sq.ft, which increased to Rs 4,500 per sq.ft in the 2023 revision. The latest revision in 2024 has further increased this to Rs 4,950 per sq.ft, marking a 10% rise from the previous year. Notably, the overall increase from the 2017 to the 2024 revision is 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street, indicating that the guideline values were not recorded during those revisions.

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, placing the TNHB 3rd Cross Street's 2024 figure above this median.

• TNHB 3rd Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 3rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 39th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Main Road: Rs 6,600 per sq.ft (2024)
• TNHB 38th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, while the registration fee at 2% would be Rs 99,000. Together, the total cost for these fees would be Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For a detailed calculation, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 3rd Cross Street?

The TNHB 3rd Cross Street 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 critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and 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 3rd Cross Street?

The current guideline value of TNHB 3rd Cross Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,015 per sq.ft in 2017 to Rs 4,950 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the stamp duty for property in TNHB 3rd Cross Street?

The stamp duty for property in TNHB 3rd Cross Street is 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 3,46,500 based on the current guideline value.

Which office handles registrations for TNHB 3rd Cross Street?

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

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, with TNHB 3rd Cross Street's 2024 figure of Rs 4,950 per sq.ft being above this median.