Guideline Value for TNHB 53rd Lane

TNHB 53rd Lane guideline value

The current guideline value of TNHB 53rd 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 53rd Lane has changed

Over the years, the guideline value for TNHB 53rd Lane has seen significant changes. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased to Rs 2,680 per sq.ft in 2017, marking a 79% rise. The value continued to climb to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The current 2024 revision has further increased the guideline value to Rs 4,400 per sq.ft, which is a 10% rise from 2023.

There are no figures available for the revisions in 2002, 2003, and 2012 for TNHB 53rd Lane. 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 53rd Lane.

• TNHB 52nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 54th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 51st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 55th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 50th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 56th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 53rd 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 use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers TNHB 53rd Lane?

The TNHB 53rd Lane falls under 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 price at which a property can be registered, ensuring that all transactions are conducted at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of TNHB 53rd Lane?

The current guideline value of TNHB 53rd 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193%.

What is the stamp duty for properties in TNHB 53rd Lane?

The stamp duty for properties in TNHB 53rd Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How many streets in Velachery have a guideline value?

There are 2,691 streets in Velachery under the Velacheri SRO that carry a 2024 guideline value.