Guideline Value for TNHB 63rd Lane

TNHB 63rd Lane guideline value

The current guideline value for TNHB 63rd Lane is Rs 4,400 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 II Type - II.

How the guideline value of TNHB 63rd Lane has changed

Looking back at the revisions, the guideline value for TNHB 63rd Lane has seen significant changes over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased to Rs 2,680 per sq.ft in 2017. This was a rise of 79%. Following that, the value jumped to Rs 4,000 per sq.ft in 2023, marking a 49% increase. The current 2024 revision has further increased the guideline value to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2012 in the register for this street. Overall, from the 2007 revision to the 2024 revision, 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 the same as the current guideline value for TNHB 63rd Lane.

• TNHB 62nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 64th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 61st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 65th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 60th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 66th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 63rd 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 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 calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 63rd Lane?

The TNHB 63rd Lane is covered by 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

The guideline value is an essential factor during the registration of property transactions in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for any property transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and fairly in the official records. It helps in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value for TNHB 63rd Lane?

The current guideline value for TNHB 63rd 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 193%.

What are the stamp duty and registration fees for TNHB 63rd Lane?

For a property valued at 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.

Which office handles registrations for TNHB 63rd Lane?

The Velacheri Sub Registrar Office handles registrations for TNHB 63rd Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 63rd Lane?

TNHB 63rd Lane is classified as Residential Class II Type - II under the current guidelines.