Guideline Value for TNHB 41st Lane

TNHB 41st Lane guideline value

The current guideline value of TNHB 41st 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 41st Lane has changed

The guideline value for TNHB 41st Lane has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, in 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a decline of 33%. The value then saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further rise to Rs 4,400 per sq.ft in 2024, representing a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 193%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery village, 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. The guideline value for TNHB 41st Lane is equal to this median value.

• TNHB 40th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 42nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Street: Rs 4,950 per sq.ft (2024)
• TNHB 43rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Main Road: Rs 6,600 per sq.ft (2024)
• TNHB 44th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 41st 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 to 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 41st Lane?

The TNHB 41st Lane 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 crucial factor during property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the current guideline value to ensure compliance with the regulations set by the Registration Department. This helps in avoiding any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of TNHB 41st Lane?

The current guideline value of TNHB 41st 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 41st Lane?

TNHB 41st Lane is classified as Residential Class II Type - II.

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 the stamp duty calculated for properties in TNHB 41st Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.