Guideline Value for TNHB 3rd Street

TNHB 3rd Street guideline value

The current guideline value of TNHB 3rd Street in Velachery village, under the Velacheri SRO, is Rs 4,950 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of TNHB 3rd Street has changed

The guideline value for TNHB 3rd Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,800 per sq.ft, which increased to Rs 3,015 per sq.ft in 2017, marking a 68% rise. The value further increased to Rs 4,500 per sq.ft in the 2023 revision, reflecting a 49% increase from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, indicating a 10% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has risen by 175%. There are no figures available for the years 2002, 2003, and 2012 for this street.

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, with a median value of Rs 4,400 per sq.ft. TNHB 3rd Street's 2024 figure is above this median.

• TNHB 3rd Main Road: Rs 6,600 per sq.ft (2024)
• TNHB 40th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 41st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Cross Street: Rs 4,950 per sq.ft (2024)
• TNHB 42nd Lane: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to 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 more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 3rd Street?

The TNHB 3rd Street 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 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 in Velachery. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When buyers and sellers engage in property transactions, the guideline value ensures that the sale price reflects the property's worth according to official standards. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,800 per sq.ft to Rs 4,950 per sq.ft in 2024, marking an overall increase of 175%.

What are the stamp duty and registration fees for TNHB 3rd Street?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which Sub Registrar Office should I visit for TNHB 3rd Street?

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

What is the land classification for TNHB 3rd Street?

TNHB 3rd Street is classified under Residential Class II Type - I land classification.