Guideline Value for T.T.K ROAD

T.T.K Road guideline value

The current guideline value of T.T.K Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the Mylapore Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - III.

How the guideline value of T.T.K Road has changed

The guideline value for T.T.K Road has seen significant changes over the years. In 2002, the value was Rs 3,098 per sq.ft, which increased to Rs 3,441 per sq.ft in 2003, marking an 11% rise. By 2007, the value jumped to Rs 3,565 per sq.ft, reflecting a 4% increase. The largest jump occurred in the 2012 revision, where the value surged to Rs 16,000 per sq.ft, a remarkable increase of 349%. The most recent revision in 2024 set the guideline value at Rs 17,600 per sq.ft, which is a 10% increase from the 2012 figure. There are no figures available for the years 2017 and 2023 for this street.

Overall, from 2002 to 2024, the guideline value has increased by 468%, showcasing substantial growth in this area. The current rate of Rs 17,600 per sq.ft is significantly higher than the earlier revisions, indicating a strong valuation for T.T.K Road.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, where the median value is Rs 8,800 per sq.ft. T.T.K Road's 2024 figure of Rs 17,600 per sq.ft is above this median, indicating its premium status in the locality.

• Trustpakkam South Street: Rs 7,700 per sq.ft (2024)
• Trustpakkam North Street: Rs 7,700 per sq.ft (2024)
• Trustpakkam: Rs 7,700 per sq.ft (2024)
• Trust Cross Link 4th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross Link 3rd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross Link 2nd Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in T.T.K Road

For a 1,000 sq.ft plot at the current rate of Rs 17,600 per sq.ft, the guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, totaling Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.T.K Road?

The Sub Registrar Office that covers T.T.K Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mylapore. It serves as a benchmark for property transactions, ensuring that the sale price is aligned with the official valuation set by the government. This value is used to calculate the applicable stamp duty and registration fees, which are mandatory for property registration.

When a property is sold, the buyer and seller must refer to the guideline value to determine the correct fees. This ensures transparency and compliance with legal requirements in property transactions within the Mylapore SRO jurisdiction.

Frequently asked questions

What is the current guideline value of T.T.K Road?

The current guideline value of T.T.K Road is Rs 17,600 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 3,098 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, marking an overall increase of 468% over this period.

What are the stamp duty and registration fees for properties on T.T.K Road?

For a property valued at Rs 1,76,00,000, the stamp duty is Rs 12,32,000 and the registration fee is Rs 3,52,000, totaling Rs 15,84,000.

Which office handles property registrations for T.T.K Road?

The Mylapore Sub Registrar Office handles property registrations for T.T.K Road, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification for T.T.K Road?

The land classification for T.T.K Road is Residential Special Type - III, indicating its designated use within the area.