Guideline Value for TNHB 7th Lane

TNHB 7th Lane guideline value

The current guideline value of TNHB 7th Lane in Velachery village, under the Velacheri SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of TNHB 7th Lane has changed

Over the years, the guideline value of TNHB 7th Lane has seen several revisions. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 167% rise. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, where it increased to Rs 4,400 per sq.ft, reflecting a 10% increase. The overall change from 2007 to 2024 is a substantial 193%.

It is important to note that there are no registered figures for TNHB 7th Lane in the years 2002, 2003, and 2017. This lack of data means that the only figures available are from the years 2007, 2012, 2023, and the current 2024 revision.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, which ranges 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 7th Lane.

• TNHB 7th Street: Rs 4,950 per sq.ft (2024)
• TNHB 80th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 81st Lane: Rs 4,400 per sq.ft (2024)
• TNHB 82nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 83rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 84th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 7th 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.

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

Which Sub Registrar Office covers TNHB 7th Lane?

The TNHB 7th 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 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 must be paid at the time of registration. Buyers and sellers should be aware of the current guideline value to ensure accurate calculations of these costs.

Additionally, the guideline value serves as a reference point for property transactions, ensuring that the values are aligned with government regulations. It is essential for both parties involved in a transaction to understand how the guideline value impacts their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of TNHB 7th Lane?

The current guideline value of TNHB 7th 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%.

Are there any years with no registered figures for TNHB 7th Lane?

Yes, there are no registered figures for TNHB 7th Lane in the years 2002, 2003, and 2017.

What is the registration office for TNHB 7th Lane?

The Velacheri Sub Registrar Office covers TNHB 7th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for property in TNHB 7th Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.