Guideline Value for TNHB 4th Main Road

TNHB 4th Main Road guideline value

The current guideline value of TNHB 4th Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Velachery village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of TNHB 4th Main Road has changed

The guideline value for TNHB 4th Main Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, a significant increase from Rs 3,350 per sq.ft in the 2017 revision. This change represents a 64% increase from the previous figure.

Prior to the 2017 revision, the guideline value was Rs 5,000 per sq.ft in 2012, marking a decrease of 33% from that year to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2023, 2007, 2003, and 2002 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 guideline value for these streets is Rs 4,400 per sq.ft, and TNHB 4th Main Road's 2024 figure is above this median.

• TNHB 4th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 4th Street: Rs 4,950 per sq.ft (2024)
• TNHB 4th Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 50th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 49th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 51st Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 4th Main Road

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers TNHB 4th Main Road?

The TNHB 4th Main Road 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 the registration process for property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish a fair value for both parties involved in the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of TNHB 4th Main Road?

The current guideline value of TNHB 4th Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, and then to Rs 5,500 per sq.ft in 2024. There are no figures available for the years 2023, 2007, 2003, and 2002.

What is the land classification for TNHB 4th Main Road?

TNHB 4th Main Road is classified as Residential Class I Type - III, which indicates its suitability for residential development.

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 stamp duty calculated for properties in TNHB 4th Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.