Guideline Value for TNHB Main Road

TNHB Main Road guideline value

The current guideline value of TNHB Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This road is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of TNHB Main Road has changed

The guideline value for TNHB Main Road has undergone several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 1,800 per sq.ft. This value saw a significant increase to Rs 6,000 per sq.ft in the 2012 revision, marking a rise of 233%. The value remained unchanged at Rs 6,000 per sq.ft until the 2023 revision, which set the value at Rs 6,000 per sq.ft again.

In the most recent revision in 2024, the guideline value increased to Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing TNHB Main Road's 2024 figure above this median.

• TNHB 9th Street: Rs 4,950 per sq.ft (2024)
• TNHB 9th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 99th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 98th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 97th Lane: Rs 4,400 per sq.ft (2024)
• TNHB 96th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty, calculated at 7%, would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, these fees total Rs 5,94,000. 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 Main Road?

The TNHB Main Road 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 details.

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

The guideline value plays a crucial role in the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The fees are calculated based on the higher of the guideline value or the actual sale price of the property.

When registering a property, it is essential to be aware of the guideline value, as it directly impacts the total cost involved in the transaction. Buyers and sellers should ensure they are informed about the current guideline values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value for TNHB Main Road?

The current guideline value for TNHB Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 267% over the years.

What is the registration office for TNHB Main Road?

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

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use the stamp duty and registration fee calculator.