Guideline Value for TNHB 56th Lane

TNHB 56th Lane guideline value

The current guideline value for TNHB 56th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, falling under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of TNHB 56th Lane has changed

The guideline value for TNHB 56th Lane has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the most recent 2024 revision set it at Rs 4,400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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 the same as the current guideline value for TNHB 56th Lane.

• TNHB 55th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 57th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 54th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 58th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 53rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 59th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 56th 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, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers TNHB 56th Lane?

The Sub Registrar Office that covers TNHB 56th Lane is 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

When buying or selling property in Velachery, the guideline value is used to determine the stamp duty and registration fees applicable during the transaction. It is essential for both buyers and sellers to be aware of the guideline value as it directly impacts the costs associated with property registration.

At the time of registration, the guideline value serves as a benchmark for calculating the fees. Buyers should ensure they are informed about the current guideline value to avoid any unexpected costs during the property transaction process.

Frequently asked questions

What is the current guideline value of TNHB 56th Lane?

The current guideline value of TNHB 56th 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for TNHB 56th Lane?

TNHB 56th Lane is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for property in TNHB 56th Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for TNHB 56th Lane located?

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