Guideline Value for TNHB 71st Lane

TNHB 71st Lane guideline value

The current guideline value of TNHB 71st 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 71st Lane has changed

The guideline value for TNHB 71st Lane has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, in 2017, the value dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2024 shows a substantial increase to Rs 4,400 per sq.ft, which is a 64% rise from the 2017 figure.

There are no recorded guideline values for the years 2023, 2003, and 2002 for TNHB 71st Lane. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO that have 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 equal to the guideline value of TNHB 71st Lane.

• TNHB 70th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 72nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 6th Street: Rs 4,950 per sq.ft (2024)
• TNHB 73rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 6th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 74th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 71st 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, totaling 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.

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

Which Sub Registrar Office covers TNHB 71st Lane?

The Sub Registrar Office that covers TNHB 71st 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 crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government during the transaction.

When a property is registered, the guideline value is assessed to ensure that the appropriate taxes are levied. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the property transaction.

Frequently asked questions

What is the current guideline value of TNHB 71st Lane?

The current guideline value of TNHB 71st 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 changed from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193% over this period.

What are the stamp duty and registration fees for TNHB 71st Lane?

For a 1,000 sq.ft plot at the current guideline value, the total 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 the registration for TNHB 71st Lane?

The Velacheri Sub Registrar Office handles the registration for TNHB 71st Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 71st Lane?

TNHB 71st Lane is classified as Residential Class II Type - II, indicating its designation for residential use within the area.