Guideline Value for TNHB 59th Lane

TNHB 59th Lane guideline value

The current guideline value of TNHB 59th 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 59th Lane has changed

In 2017, the guideline value for TNHB 59th Lane was Rs 2,680 per sq.ft. This value increased to Rs 4,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Velachery

In Velachery, there are a total of 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 this area is Rs 4,400 per sq.ft, which is the same as the current value for TNHB 59th Lane.

• TNHB 58th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 5th Avenue: Rs 6,050 per sq.ft (2024)
• TNHB 57th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 5th Lane: Rs 4,950 per sq.ft (2024)
• TNHB 56th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 5th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 59th 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 cost for these 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.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers TNHB 59th Lane?

The TNHB 59th Lane is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of TNHB 59th Lane?

The current guideline value of TNHB 59th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,680 per sq.ft to Rs 4,400 per sq.ft in 2024, which is a total increase of 64% over this period.

What was the guideline value in 2023?

The guideline value for TNHB 59th Lane in 2023 was Rs 4,000 per sq.ft.

Where can I find the registration office for TNHB 59th Lane?

The registration office for TNHB 59th Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in TNHB 59th Lane?

Stamp duty for properties in TNHB 59th Lane is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 3,08,000.