Guideline Value for T.V.K. 1st Link Road

T.V.K. 1st Link Road guideline value

The current guideline value of T.V.K. 1st Link Road is Rs 2,500 per sq.ft, effective from 1 July 2024. This road is located in Erukancherry village and falls under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of T.V.K. 1st Link Road has changed

The guideline value for T.V.K. 1st Link Road has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was then reduced to Rs 1,541 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 2,300 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,500 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 is a 9% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value 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. 1st Link Road.

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

Stamp duty and registration fee for property in T.V.K. 1st Link Road

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. 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.K. 1st Link Road?

The T.V.K. 1st Link Road is covered by 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 plays a crucial role in property transactions in Erukancherry. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area. This ensures that the government receives appropriate revenue based on the value of the property being transferred.

When registering a property, buyers and sellers must be aware of the guideline value to avoid any discrepancies during the transaction. It is advisable to consult the latest guideline values to ensure compliance with the registration process.

Frequently asked questions

What is the current guideline value of T.V.K. 1st Link Road?

The current guideline value of T.V.K. 1st Link Road 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 are the stamp duty rates for property in T.V.K. 1st Link Road?

The stamp duty rate is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for T.V.K. 1st Link Road?

The registrations for T.V.K. 1st Link Road are handled by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Erukancherry?

The median guideline value in Erukancherry is Rs 2,500 per sq.ft, which is the same as the current guideline value for T.V.K. 1st Link Road.