Guideline Value for TNHB 42nd Lane

TNHB 42nd Lane guideline value

The current guideline value of TNHB 42nd 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 falls under the Residential Class II Type - II land classification.

How the guideline value of TNHB 42nd Lane has changed

The guideline value for TNHB 42nd Lane has undergone several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The subsequent revisions saw significant increases, with the value rising to Rs 4,000 per sq.ft in 2023 and reaching Rs 4,400 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%. The jump from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 193%. 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. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of TNHB 42nd Lane.

• TNHB 41st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 43rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 40th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 44th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 3rd Street: Rs 4,950 per sq.ft (2024)
• TNHB 3rd Main Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 42nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers TNHB 42nd Lane?

The TNHB 42nd 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 plays a crucial role in property transactions in Velachery. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling a property, the guideline value is considered for calculating stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications associated with the property transaction.

Frequently asked questions

What is the current guideline value of TNHB 42nd Lane?

The current guideline value of TNHB 42nd 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 this period.

What are the stamp duty and registration fees for TNHB 42nd Lane?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000, calculated based on the guideline value of Rs 44,00,000.

Which Sub Registrar Office covers TNHB 42nd Lane?

The Velacheri Sub Registrar Office covers TNHB 42nd Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, which is the same as the guideline value for TNHB 42nd Lane.