Guideline Value for TNHB 57th Lane

TNHB 57th Lane guideline value

The current guideline value of TNHB 57th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. It is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of TNHB 57th Lane has changed

Over the years, the guideline value for TNHB 57th Lane has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and then to Rs 4,400 per sq.ft in 2024. The revisions for the years 2002, 2003, and 2007 have no figures available for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

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 guideline value is Rs 4,400 per sq.ft, making the current value of TNHB 57th Lane equal to this median.

• TNHB 56th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 58th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 55th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 59th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 54th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 5th Avenue: Rs 6,050 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 57th 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers TNHB 57th Lane?

The Sub Registrar Office that covers TNHB 57th 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It helps determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are in accordance with government regulations.

When a property is sold, the guideline value is used to assess the minimum value for taxation purposes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of TNHB 57th Lane?

The current guideline value of TNHB 57th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly 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 stamp duty for property in TNHB 57th Lane?

The stamp duty for property in TNHB 57th Lane is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 3,08,000.

Where can I find the Sub Registrar Office for TNHB 57th Lane?

The Sub Registrar Office for TNHB 57th Lane is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 57th Lane?

TNHB 57th Lane is classified as Residential Class II Type - II, indicating its suitability for residential purposes.