Guideline Value for T.V.K. 1 Street

T.V.K. 1 Street guideline value

The current guideline value of T.V.K. 1 Street in Konnur village is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Konnur Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of T.V.K. 1 Street has changed

The guideline value for T.V.K. 1 Street has seen several revisions over the years. In 2002, the value was Rs 449 per sq.ft, which increased to Rs 487 per sq.ft in 2003, marking an 8% rise. The value then rose significantly to Rs 800 per sq.ft in 2007, reflecting a 64% increase. In 2012, the guideline value was Rs 3,500 per sq.ft, showing a substantial increase of 338% from the previous revision. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the value increased by 49% to reach Rs 3,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, representing a 9% increase from 2023. There are no figures available in the register for revisions in other years for this street.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for the village is Rs 3,800 per sq.ft, which aligns with the current value of T.V.K. 1 Street.

• T.V.K. IInd, IIIrd, IVth Street: Rs 3,800 per sq.ft (2024)
• T.V.K. Street: Rs 3,800 per sq.ft (2024)
• Thomas Street: Rs 6,000 per sq.ft (2024)
• Valluvar Nagar (Kattuvan Kuttai): Rs 3,800 per sq.ft (2024)
• Thiruveethiamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.K. 1 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total cost to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.V.K. 1 Street?

The T.V.K. 1 Street is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Konnur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in property dealings, as it prevents undervaluation of properties during registration.

Frequently asked questions

What is the current guideline value of T.V.K. 1 Street?

The current guideline value of T.V.K. 1 Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 449 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 746% over the years.

What is the land classification for T.V.K. 1 Street?

T.V.K. 1 Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for T.V.K. 1 Street?

The registration office for T.V.K. 1 Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Konnur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,00,000 would incur a stamp duty of Rs 2,66,000 at a rate of 7%.