Guideline Value for TNHB 55th Lane

TNHB 55th Lane guideline value

The current guideline value of TNHB 55th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of TNHB 55th Lane has changed

The guideline value for TNHB 55th Lane has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, this figure dropped to Rs 2,680 per sq.ft in 2017. The value then rose significantly to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024. The revisions for the years 2002 and 2003 have no figures listed for this street.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 167% from 2007 to 2012. The rise from 2017 to 2023 was 49%, followed by a 10% increase from 2023 to 2024. 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 value is Rs 4,400 per sq.ft, which is equal to the current guideline value of TNHB 55th Lane.

• TNHB 54th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 56th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 53rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 57th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 52nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 58th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 55th Lane

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 44,00,000. The stamp duty charged at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 55th Lane?

The TNHB 55th 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must ensure that the sale price meets or exceeds the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of TNHB 55th Lane?

The current guideline value of TNHB 55th 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, reflecting an overall increase of 193% over the years.

What is the land classification for TNHB 55th Lane?

TNHB 55th Lane is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for TNHB 55th Lane?

The Velacheri Sub Registrar Office, which covers TNHB 55th Lane, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in TNHB 55th Lane?

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 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.