Guideline Value for TNHB 78th Lane

TNHB 78th Lane guideline value

The current guideline value of TNHB 78th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This lane is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of TNHB 78th Lane has changed

The guideline value for TNHB 78th 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 to Rs 4,000 per sq.ft in 2012, marking a significant rise of 167%. However, in 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting an increase of 64% from 2017.

It is important to note that the register has no figures for the years 2002, 2003, and 2023 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 the same as the guideline value for TNHB 78th Lane.

• TNHB 77th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 79th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 76th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 75th 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 78th 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 essential to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers TNHB 78th Lane?

The Sub Registrar Office that covers TNHB 78th 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is important to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of TNHB 78th Lane?

The current guideline value of TNHB 78th 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 significantly, from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193%.

What is the land classification for TNHB 78th Lane?

TNHB 78th Lane is classified as Residential Class II Type - II, indicating its suitability for residential development.

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.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value or the sale price, whichever is higher. A detailed calculation can be done using the stamp duty and registration fee calculator.