Guideline Value for TNHB 81st Lane

TNHB 81st Lane guideline value

The current guideline value of TNHB 81st 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 81st Lane has changed

The guideline value of TNHB 81st Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in both 2012 and 2023. The most recent revision in 2024 saw another increase to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value rose by 167% from 2007 to 2012, and there was no change from 2012 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 193%. It is noteworthy that there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current value for TNHB 81st Lane.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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 duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 81st Lane?

The Sub Registrar Office that covers TNHB 81st 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 in the registration process 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 fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying, while sellers can use it to set competitive prices for their properties.

Frequently asked questions

What is the current guideline value of TNHB 81st Lane?

The current guideline value of TNHB 81st 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, marking an overall increase of 193% over the years.

What is the land classification of TNHB 81st Lane?

TNHB 81st Lane is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for TNHB 81st Lane?

The Sub Registrar Office for TNHB 81st Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in TNHB 81st Lane?

Stamp duty is calculated on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.