Guideline Value for TNHB 47th Lane

TNHB 47th Lane guideline value

The current guideline value for TNHB 47th 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 47th Lane has changed

The guideline value for TNHB 47th Lane has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and finally, the current value is Rs 4,400 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for TNHB 47th Lane in the years 2002 and 2003. 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 guideline value is Rs 4,400 per sq.ft, which is equal to the current value of TNHB 47th Lane.

• TNHB 46th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 48th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 45th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 49th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 4th Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 4th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 47th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, bringing the total fees together 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers TNHB 47th Lane?

The TNHB 47th 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 in property transactions in Velachery. It is used to determine the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that these costs are accurately assessed based on the property's value.

When a property is sold, the guideline value serves as a benchmark for the sale price. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price, ensuring that the registration process adheres to the legal requirements.

Frequently asked questions

What is the current guideline value of TNHB 47th Lane?

The current guideline value of TNHB 47th 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, showing an overall increase of 193% over the years.

What is the stamp duty for property in TNHB 47th Lane?

The stamp duty for property in TNHB 47th Lane is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for TNHB 47th Lane located?

The Sub Registrar Office covering TNHB 47th Lane is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 47th Lane?

TNHB 47th Lane is classified as Residential Class II Type - II, indicating its use for residential purposes.