Guideline Value for TNHB 89th Lane

TNHB 89th Lane guideline value

The current guideline value of TNHB 89th 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 89th Lane has changed

In the 2007 revision, the guideline value was Rs 1,500 per sq.ft. This increased to Rs 2,680 per sq.ft in the 2017 revision, marking a change of +79%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a significant increase of +64% from the 2017 figure. There are no figures available for the years 2023, 2012, 2003, and 2002 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +193%. This shows a substantial rise in the guideline value over the years as recorded in the register.

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 guideline value of TNHB 89th Lane.

• TNHB 88th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 8th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 87th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 8th Street: Rs 4,950 per sq.ft (2024)
• TNHB 87th Cross Street: Rs 4,400 per sq.ft (2024)
• TNHB 90th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 89th 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, while the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important 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 details.

Which Sub Registrar Office covers TNHB 89th Lane?

The TNHB 89th Lane falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is an essential factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. The value ensures that the government receives appropriate revenue from property transactions.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately, and the appropriate taxes are collected by the authorities.

Frequently asked questions

What is the current guideline value of TNHB 89th Lane?

The current guideline value of TNHB 89th 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 significantly from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is a total increase of +193% over the years.

What are the stamp duty rates for properties in TNHB 89th Lane?

The stamp duty rate for properties in TNHB 89th Lane is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for TNHB 89th Lane?

The Velacheri Sub Registrar Office handles registrations for TNHB 89th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 89th Lane?

TNHB 89th Lane is classified as Residential Class II Type - II, which indicates its suitability for residential development.