Guideline Value for T.V.K Street

T.V.K Street guideline value

The current guideline value of T.V.K Street in Erukancherry village, under the Madhavaram SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of T.V.K Street has changed

The guideline value for T.V.K Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, and then to Rs 2,500 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which is equal to the current guideline value of T.V.K Street.

• 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)
• T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar): Rs 2,500 per sq.ft (2024)
• T.V. Nagar 1st Main Road 1st Street: Rs 2,200 per sq.ft (2024)
• T.V. Nagar 1st Main Road 1st Street Extension: Rs 2,200 per sq.ft (2024)
• T.V. Nagar 3rd Line Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.K Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. 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 the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers T.V.K Street?

The Sub Registrar Office that covers T.V.K Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of T.V.K Street?

The current guideline value of T.V.K Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for T.V.K Street?

T.V.K Street is classified as Residential Class III Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for T.V.K Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. The current example shows a total of Rs 2,25,000 for a property valued at Rs 25,00,000.