Guideline Value for TNHB 40th Lane

TNHB 40th Lane guideline value

The current guideline value of TNHB 40th Lane, located in Velachery village, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of TNHB 40th Lane has changed

Over the years, the guideline value for TNHB 40th Lane has seen several revisions. The earliest recorded value is from 2007, which was Rs 1,500 per sq.ft. This value increased significantly to Rs 4,000 per sq.ft in 2012, marking a change of +167%. The guideline value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, which brought it up to Rs 4,400 per sq.ft, reflecting a 10% increase. The current figure of Rs 4,400 per sq.ft is effective from 1 July 2024.

There are no recorded figures for the years 2002, 2003, and 2017 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, 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 equal to the current guideline value of TNHB 40th Lane.

• TNHB 3rd Street: Rs 4,950 per sq.ft (2024)
• TNHB 41st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Main Road: Rs 6,600 per sq.ft (2024)
• TNHB 42nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 43rd Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 40th 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. Together, these fees total Rs 3,96,000. It is important to note that the 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 accurate calculations.

Which Sub Registrar Office covers TNHB 40th Lane?

The TNHB 40th Lane 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 plays a crucial role in property transactions in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the registration of property sales. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the applicable taxes. This means that both the buyer and seller should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of TNHB 40th Lane?

The current guideline value of TNHB 40th 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, marking an overall increase of 193% over this period.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7%, which is calculated based on the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

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

What are the guideline values of other streets in Velachery?

Other streets in Velachery have varying guideline values. For example, TNHB 3rd Street has a guideline value of Rs 4,950 per sq.ft, while TNHB 41st Lane, TNHB 42nd Lane, TNHB 3rd Lane, and TNHB 43rd Lane all have a guideline value of Rs 4,400 per sq.ft.