Guideline Value for T.v.h.lumbini Square @ Value Fixed By District Committee Vide Dig Lr.no.7179/à /2006.1 Dt.30.11.06 Subject To Final Approval By The Committee

T.V.H.LUMBINI SQUARE @ Value Fixed by District Committee Vide DIG Lr.No.7179/à /2006.1 Dt.30.11.06 subject to final approval by the committee guideline value

The current guideline value for T.V.H.LUMBINI SQUARE is Rs 10,800 per sq.ft, effective from 1 July 2024. This property is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of T.V.H.LUMBINI SQUARE @ Value Fixed by District Committee Vide DIG Lr.No.7179/à /2006.1 Dt.30.11.06 subject to final approval by the committee has changed

The guideline value for T.V.H.LUMBINI SQUARE has seen significant changes over the years. In 2007, the guideline value was Rs 2,300 per sq.ft. This figure increased dramatically to Rs 10,000 per sq.ft by 2012, marking a rise of 335%. However, from 2012 to 2017, the value decreased to Rs 6,700 per sq.ft, a decline of 33%. The value then rose again to Rs 10,000 per sq.ft in 2023, and further increased to Rs 10,800 per sq.ft in 2024, reflecting an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 370%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street in the register.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, indicating that T.V.H.LUMBINI SQUARE's current value is above this median.

• T.V.K.Street: Rs 4,900 per sq.ft (2024)
• Uppira Narayanan 1st Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan 2nd Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan 3rd Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan Street: Rs 4,400 per sq.ft (2024)
• Uppira Valluvan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.H.LUMBINI SQUARE @ Value Fixed by District Committee Vide DIG Lr.No.7179/à /2006.1 Dt.30.11.06 subject to final approval by the committee

For a 1,000 sq.ft plot at the current guideline value of Rs 10,800 per sq.ft, the total guideline value would be Rs 1,08,00,000. The stamp duty at 7% would amount to Rs 7,56,000, while the registration fee at 2% would be Rs 2,16,000, bringing the total to Rs 9,72,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers T.V.H.LUMBINI SQUARE @ Value Fixed by District Committee Vide DIG Lr.No.7179/à /2006.1 Dt.30.11.06 subject to final approval by the committee?

The Sub Registrar Office covering T.V.H.LUMBINI SQUARE is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the correct stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for T.V.H.LUMBINI SQUARE?

The current guideline value for T.V.H.LUMBINI SQUARE is Rs 10,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,300 per sq.ft in 2007 to Rs 10,800 per sq.ft in 2024, reflecting an overall increase of 370% over this period.

What are the stamp duty and registration fees for properties in T.V.H.LUMBINI SQUARE?

For a property valued at Rs 1,08,00,000, the stamp duty would be Rs 7,56,000 and the registration fee would be Rs 2,16,000, totaling Rs 9,72,000.

Which office handles the registration for T.V.H.LUMBINI SQUARE?

The registration for T.V.H.LUMBINI SQUARE is handled by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum registration value for properties, ensuring that the correct stamp duty and registration fees are collected during property transactions.