Guideline Value for TNHB 98th Lane

TNHB 98th Lane guideline value

The current guideline value of TNHB 98th 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 98th Lane has changed

The guideline value for TNHB 98th Lane has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,500 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 167% rise. However, in 2017, the value decreased to Rs 2,680 per sq.ft, representing a decline of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, and subsequently increased by 10% to the current rate of Rs 4,400 per sq.ft in 2024.

There are no recorded figures for the years 2002 and 2003 for this street. 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 guideline value for TNHB 98th Lane.

• TNHB 97th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 99th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 96th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 9th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 95th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 9th Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 98th 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, totaling 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 98th Lane?

The TNHB 98th 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These charges are based on the higher of the guideline value or the sale price, which ensures that the registration process is both transparent and standardized.

Frequently asked questions

What is the current guideline value of TNHB 98th Lane?

The current guideline value of TNHB 98th 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, reflecting an overall increase of 193% over the years.

What are the stamp duty and registration fees for property in TNHB 98th Lane?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000.

Which Sub Registrar Office covers TNHB 98th Lane?

The Velacheri Sub Registrar Office covers TNHB 98th Lane, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for TNHB 98th Lane?

TNHB 98th Lane is classified as Residential Class II Type - II, indicating its suitability for residential development.