Guideline Value for TNHB 77th Lane

TNHB 77th Lane guideline value

The current guideline value of TNHB 77th 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, classified as Residential Class II Type - II.

How the guideline value of TNHB 77th Lane has changed

The guideline value for TNHB 77th Lane has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a change of +167%. However, the value dropped to Rs 2,680 per sq.ft in 2017, representing a decrease of -33%. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is an increase of +64% from the 2017 figure.

There are no figures for the years 2023, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, 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 equal to the current guideline value of TNHB 77th Lane.

• TNHB 76th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 78th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 75th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 79th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 74th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 73rd Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 77th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be 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.

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

Which Sub Registrar Office covers TNHB 77th Lane?

The Sub Registrar Office that covers TNHB 77th 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 plays a crucial role during the registration of property transactions in Velachery. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted in accordance with legal requirements.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of the transaction. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of TNHB 77th Lane?

The current guideline value of TNHB 77th 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, showing an overall increase of +193% over the years.

What is the land classification of TNHB 77th Lane?

TNHB 77th Lane is classified as Residential Class II Type - II.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in TNHB 77th Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000.