Guideline Value for TNHB 64th Lane

TNHB 64th Lane guideline value

The current guideline value of TNHB 64th 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 64th Lane has changed

The guideline value for TNHB 64th Lane has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 2,680 per sq.ft in 2017, marking a rise of 79%. The value then rose to Rs 4,000 per sq.ft in 2023, reflecting a substantial increase of 49%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%, showcasing a significant change over the years.

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 among these streets is Rs 4,400 per sq.ft, which aligns with the current guideline value of TNHB 64th Lane.

• TNHB 63rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 65th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 62nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 66th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 61st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 67th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 64th 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 fees together to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 64th Lane?

The TNHB 64th 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is considered along with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is based on an established value for the property.

Frequently asked questions

What is the current guideline value of TNHB 64th Lane?

The current guideline value of TNHB 64th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,500 per sq.ft to Rs 4,400 per sq.ft in 2024, marking an overall increase of 193% over the years.

What are the stamp duty and registration fees for TNHB 64th Lane?

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

Which Sub Registrar Office covers TNHB 64th Lane?

The Velacheri Sub Registrar Office covers TNHB 64th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 64th Lane?

TNHB 64th Lane is classified as Residential Class II Type - II, which is important for understanding the zoning regulations applicable to the area.