Guideline Value for TNHB 48th Lane

TNHB 48th Lane guideline value

The current guideline value of TNHB 48th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, which falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of TNHB 48th Lane has changed

The guideline value of TNHB 48th Lane has seen 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. However, it then decreased to Rs 2,680 per sq.ft in 2017. The value rose again to Rs 4,000 per sq.ft in 2023, and finally, it reached Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 193%. The revisions for the years 2002 and 2003 do not have any figures recorded 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. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of TNHB 48th Lane.

• TNHB 47th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 49th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 46th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 4th Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 45th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 4th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 48th 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 or the sale price.

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

Which Sub Registrar Office covers TNHB 48th Lane?

The TNHB 48th Lane is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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 stamp duty and registration fees that buyers must pay when purchasing property. This value ensures that the transaction is recorded accurately and fairly in the official register.

When selling property, the guideline value helps in establishing a baseline for negotiations and pricing. Buyers and sellers often refer to this value to ensure that the sale price aligns with the official rates set by the government.

Frequently asked questions

What is the current guideline value of TNHB 48th Lane?

The current guideline value of TNHB 48th 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 land classification for TNHB 48th Lane?

The land classification for TNHB 48th Lane is Residential Class II Type - II.

What are the stamp duty and registration fees for TNHB 48th Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, resulting in a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for TNHB 48th Lane?

The Velacheri Sub Registrar Office handles registrations for TNHB 48th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.