Guideline Value for TNHB 4th Avenue

TNHB 4th Avenue guideline value

The current guideline value of TNHB 4th Avenue is Rs 6,050 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 I Type - II.

How the guideline value of TNHB 4th Avenue has changed

Looking at the historical revisions, the guideline value for TNHB 4th Avenue has seen significant changes. The earliest recorded revision was in 2007, where the value was Rs 1,800 per sq.ft. This increased to Rs 5,500 per sq.ft in 2012, marking a remarkable rise of 206%. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, a decline of 33%. The most recent revision in 2024 shows a substantial increase to Rs 6,050 per sq.ft, reflecting a growth of 64% from 2017.

There are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 236%.

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 among these streets is Rs 4,400 per sq.ft, placing TNHB 4th Avenue's current value above this median.

• TNHB 49th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 4th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 48th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 4th Main Road: Rs 5,500 per sq.ft (2024)
• TNHB 47th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 4th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 4th Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 6,050 per sq.ft, the total guideline value amounts to Rs 60,50,000. The stamp duty at 7% would be Rs 4,23,500, and the registration fee at 2% would be Rs 1,21,000, bringing the total to Rs 5,44,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 4th Avenue?

The TNHB 4th Avenue 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 an essential factor during the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the property acquisition.

Frequently asked questions

What is the current guideline value of TNHB 4th Avenue?

The current guideline value of TNHB 4th Avenue is Rs 6,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,800 per sq.ft in 2007 to Rs 6,050 per sq.ft in 2024, which is an overall increase of 236%.

What is the land classification for TNHB 4th Avenue?

TNHB 4th Avenue is classified as Residential Class I Type - II.

Where can I find the registration office for TNHB 4th Avenue?

The Velacheri Sub Registrar Office covers TNHB 4th Avenue, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in TNHB 4th Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 60,50,000 would incur a stamp duty of Rs 4,23,500.