Guideline Value for TNHB 5th Avenue

TNHB 5th Avenue guideline value

The current guideline value of TNHB 5th Avenue is Rs 6,050 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class I Type - II.

How the guideline value of TNHB 5th Avenue has changed

The guideline value for TNHB 5th Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which then changed to Rs 3,685 per sq.ft in the 2017 revision, marking a decrease of 33%. The value increased significantly in the 2023 revision to Rs 5,500 per sq.ft, followed by a further increase to Rs 6,050 per sq.ft in the 2024 revision, representing a 10% rise from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for TNHB 5th Avenue. 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 that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of TNHB 5th Avenue is above this median.

• TNHB 59th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 5th Lane: Rs 4,950 per sq.ft (2024)
• TNHB 58th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 5th Street: Rs 4,950 per sq.ft (2024)
• TNHB 57th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 60th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 5th Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 6,050 per sq.ft, the total guideline value would be Rs 60,50,000. The stamp duty at 7% would amount to Rs 4,23,500, and the registration fee at 2% would be Rs 1,21,000, bringing the total fees together to Rs 5,44,500. Please 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 information.

Which Sub Registrar Office covers TNHB 5th Avenue?

The TNHB 5th Avenue 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 more details.

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

The guideline value is an essential factor when registering property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of TNHB 5th Avenue?

The current guideline value of TNHB 5th Avenue is Rs 6,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 5,500 to Rs 3,685 in 2017, then back to Rs 5,500 in 2023, and finally to Rs 6,050 in 2024. Overall, from 2012 to 2024, the increase is 10%.

What is the land classification for TNHB 5th Avenue?

TNHB 5th Avenue is classified as Residential Class I Type - II, which indicates its designated use for residential purposes.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in TNHB 5th Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 60,50,000, the stamp duty would be Rs 4,23,500 at a rate of 7%.