Guideline Value for TNHB 3rd Lane

TNHB 3rd Lane guideline value

The current guideline value of TNHB 3rd Lane in Velachery village, under the Velacheri SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of TNHB 3rd Lane has changed

Over the years, the guideline value of TNHB 3rd Lane has seen significant changes. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 2,680 per sq.ft in 2017, marking a 79% rise. The value further rose to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, a 10% increase from 2023.

There are no figures available for the revisions in 2002, 2003, and 2012 for this street. 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 is Rs 4,400 per sq.ft, which is equal to the current guideline value of TNHB 3rd Lane. Below are the guideline values for other streets in Velachery:

• TNHB 3rd Cross Street: Rs 4,950 per sq.ft (2024)
• TNHB 3rd Main Road: Rs 6,600 per sq.ft (2024)
• TNHB 3rd Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 3rd Street: Rs 4,950 per sq.ft (2024)
• TNHB 39th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 40th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 3rd 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 fees together to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers TNHB 3rd Lane?

The TNHB 3rd 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 further assistance.

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 that need to be paid during the sale or purchase of a property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions. This helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of TNHB 3rd Lane?

The current guideline value of TNHB 3rd 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 193% over the years.

What is the land classification for TNHB 3rd Lane?

TNHB 3rd Lane is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Velacheri Sub Registrar Office?

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 3rd Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000.