Guideline Value for TNHB 99th Lane

TNHB 99th Lane guideline value

The current guideline value of TNHB 99th 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 falls under the Residential Class II Type - II land classification.

How the guideline value of TNHB 99th Lane has changed

The guideline value for TNHB 99th Lane has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value rose to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. The changes between these revisions are notable, with a 167% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023, culminating in a 10% increase from 2023 to 2024.

The register does not have figures for the years 2002 and 2003 for this street.

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 99th Lane.

• TNHB 98th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 9th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 97th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 9th Street: Rs 4,950 per sq.ft (2024)
• TNHB 96th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 95th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB 99th 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, 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB 99th Lane?

The TNHB 99th 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 an essential factor in the registration process when buying or selling property in Velachery. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the guideline value helps establish a baseline for the sale price, which can affect the overall costs involved in the transaction. Buyers and sellers should always consider the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of TNHB 99th Lane?

The current guideline value of TNHB 99th 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 from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for TNHB 99th Lane?

TNHB 99th Lane falls under the Residential Class II Type - II land classification.

Where can I find the Sub Registrar Office for TNHB 99th Lane?

The Velacheri Sub Registrar Office covers TNHB 99th Lane and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in TNHB 99th Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. 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%.