Guideline Value for TNHB 85th Lane

TNHB 85th Lane guideline value

The current guideline value of TNHB 85th 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 85th Lane has changed

The guideline value for TNHB 85th Lane has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 167% rise. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a 33% drop. The most recent revision in 2024 brought the value back up to Rs 4,400 per sq.ft, representing a substantial increase of 64% from the 2017 figure.

There are no recorded figures for the years 2023, 2003, and 2002 for TNHB 85th Lane. 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 current guideline value for TNHB 85th Lane.

• TNHB 84th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 86th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 83rd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 87th Cross Street: Rs 4,400 per sq.ft (2024)
• TNHB 82nd Lane: Rs 4,400 per sq.ft (2024)
• TNHB 87th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 85th 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 cost 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 85th Lane?

The TNHB 85th Lane falls under the jurisdiction of 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 property transactions in Velachery, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of TNHB 85th Lane?

The current guideline value of TNHB 85th 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 seen several changes, increasing from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with fluctuations in between.

What are the stamp duty and registration fees for TNHB 85th Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty is Rs 3,08,000 and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers TNHB 85th Lane?

The Velacheri Sub Registrar Office covers TNHB 85th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 85th Lane?

TNHB 85th Lane is classified as Residential Class II Type - II, indicating its suitability for residential development.