Guideline Value for TNHB 97th Lane

TNHB 97th Lane guideline value

The current guideline value of TNHB 97th 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 97th Lane has changed

The guideline value for TNHB 97th Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 4,000 per sq.ft in the 2023 revision, and finally, it reached Rs 4,400 per sq.ft in the 2024 revision, showing an increase of 10% from the previous year. The register has no figures for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which is the same as the current value for TNHB 97th Lane.

• TNHB 96th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 98th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 95th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 99th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 94th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 9th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 97th Lane

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, making the total Rs 3,96,000. Please note that the 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 97th Lane?

The TNHB 97th 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 is a crucial factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a reference point to assess the minimum value for taxation purposes. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of TNHB 97th Lane?

The current guideline value of TNHB 97th 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, with the 2007 revision starting at Rs 1,500 per sq.ft and reaching Rs 4,400 per sq.ft in 2024. Notable changes include a 167% increase from 2007 to 2012 and a 49% increase from 2017 to 2023.

What is the stamp duty rate for properties in TNHB 97th Lane?

The stamp duty rate for properties in TNHB 97th Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, which is the same as the current guideline value for TNHB 97th Lane.