Guideline Value for CHENNAI -THIRUVALLUR HIGH ROAD (M.T.H ROAD) (T.V.S. GROUP OF COMPANIES)

Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies) guideline value

The current guideline value for Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies) is Rs 8,200 per sq.ft, effective from 1 July 2024. This property is located in Korattur village under the Villivakkam SRO, and it falls under the land classification of Residential Special Type - I.

How the guideline value of Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies) has changed

Over the years, the guideline value for Chennai -Thiruvallur High Road has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 3,050 per sq.ft. This figure increased significantly to Rs 7,500 per sq.ft in 2012, marking a rise of 146%. However, in 2017, the value decreased to Rs 5,025 per sq.ft, a drop of 33%. The value then increased again to Rs 7,500 per sq.ft in 2023, and most recently, it has risen to Rs 8,200 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 169%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing the Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies) above this median.

• Chennai - Thiruvallur High Road (M.T.H Road): Rs 8,200 per sq.ft (2024)
• Chetty Street: Rs 2,700 per sq.ft (2024)
• Chavadi Street: Rs 3,300 per sq.ft (2024)
• Chockalingam Street: Rs 1,600 per sq.ft (2024)
• Collector Nagar/Streets (Madhanakuppam): Rs 1,300 per sq.ft (2024)
• Brindavan Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total fees together to Rs 7,38,000. It is important to 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 precise calculations.

Which Sub Registrar Office covers Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies)?

The Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies) falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction is recorded accurately and legally.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are typically based on the guideline value or the sale price, whichever is higher, ensuring that the state revenue is appropriately collected during property transfers.

Frequently asked questions

What is the current guideline value for Chennai -Thiruvallur High Road?

The current guideline value for Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies) is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,050 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of 169% over the years.

What is the median guideline value for streets in Korattur?

The median guideline value for the 617 streets in Korattur under the Villivakkam SRO is Rs 2,500 per sq.ft, with the Chennai -Thiruvallur High Road (M.T.H Road) value being above this median.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Chennai -Thiruvallur High Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 82,00,000 would incur a stamp duty of Rs 5,74,000 at 7%.