Guideline Value for T.V. Nagar 3rd Line Street

T.V. Nagar 3rd Line Street guideline value

The current guideline value of T.V. Nagar 3rd Line Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of T.V. Nagar 3rd Line Street has changed

The guideline value for T.V. Nagar 3rd Line Street has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as per the 2024 revision. Notably, the register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the values from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for T.V. Nagar 3rd Line Street is below this median.

• T.V. Nagar 1st Main Road 1st Street Extension: Rs 2,200 per sq.ft (2024)
• T.V. Nagar 1st Main Road 1st Street: Rs 2,200 per sq.ft (2024)
• T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar): Rs 2,500 per sq.ft (2024)
• T.V.K Street: Rs 2,500 per sq.ft (2024)
• T.V.K. Service Road: Rs 2,500 per sq.ft (2024)
• T.V.K. Nagar Street (Thiruvalluvar Nagar): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in T.V. Nagar 3rd Line Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers T.V. Nagar 3rd Line Street?

The T.V. Nagar 3rd Line Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Erukancherry. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers must consider this value to understand the financial implications involved in the registration process.

Frequently asked questions

What is the current guideline value of T.V. Nagar 3rd Line Street?

The current guideline value of T.V. Nagar 3rd Line Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for T.V. Nagar 3rd Line Street?

T.V. Nagar 3rd Line Street is classified as Residential Class IV Type - I under the Madhavaram SRO.

Where can I find the Sub Registrar Office for T.V. Nagar 3rd Line Street?

The Madhavaram Sub Registrar Office, which covers T.V. Nagar 3rd Line Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty and registration fees for property transactions?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees amount to Rs 1,98,000.