Guideline Value for TNHB 54th Lane

TNHB 54th Lane guideline value

The current guideline value of TNHB 54th Lane in Velachery village, under the Velacheri SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of TNHB 54th Lane has changed

Over the years, the guideline value of TNHB 54th Lane has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 167% rise. However, the value then decreased to Rs 2,680 per sq.ft in 2017, which was a decline of 33%. By 2023, the value had risen again to Rs 4,000 per sq.ft, and in the latest revision for 2024, it stands at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. The register does not contain figures for the years 2002 and 2003 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, which is equal to the current value of TNHB 54th Lane.

• TNHB 53rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 55th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 52nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 56th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 51st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 57th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 54th Lane

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, totaling Rs 3,96,000. It is important to note that 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 accurate estimates.

Which Sub Registrar Office covers TNHB 54th Lane?

The TNHB 54th Lane falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a crucial factor during the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of TNHB 54th Lane?

The current guideline value of TNHB 54th 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, marking a total increase of 193% over the years.

What is the land classification of TNHB 54th Lane?

TNHB 54th Lane is classified as Residential Class II Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for TNHB 54th Lane?

The Sub Registrar Office covering TNHB 54th Lane is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in TNHB 54th Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.