Guideline Value for T.V.K. 1st st ( Ward No.12 )

T.V.K. 1st st ( Ward No.12 ) guideline value

The current guideline value for T.V.K. 1st st ( Ward No.12 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of T.V.K. 1st st ( Ward No.12 ) has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure saw a decrease of 33% by the 2017 revision, which recorded a new value of Rs 1,005 per sq.ft. The value then increased significantly by 49% to Rs 1,500 per sq.ft in the 2023 revision. The most recent 2024 revision shows an increase of 7%, bringing the guideline value to Rs 1,600 per sq.ft.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the 2024 figure for T.V.K. 1st st ( Ward No.12 ).

• T.V.K. 2nd st ( Ward No.12 ): Rs 1,600 per sq.ft (2024)
• T.V.K. 6th Cross Street (Ward-12): Rs 1,600 per sq.ft (2024)
• T.V.K. 6th cross st ( Ward No.13 ): Rs 1,600 per sq.ft (2024)
• Tuticorin Vellaisamy Street: Rs 1,600 per sq.ft (2024)
• T.V.K.Nagar 3rd st ( Ward No.13 ): Rs 1,600 per sq.ft (2024)
• T.V.K.Nagar 4th st ( Ward No.13 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.K. 1st st ( Ward No.12 )

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total Rs 1,44,000. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers T.V.K. 1st st ( Ward No.12 )?

The Sub Registrar Office that covers T.V.K. 1st st ( Ward No.12 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Madhavaram. It serves as the minimum value at which properties must be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value for T.V.K. 1st st ( Ward No.12 )?

The current guideline value for T.V.K. 1st st ( Ward No.12 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for T.V.K. 1st st ( Ward No.12 )?

The land classification for T.V.K. 1st st ( Ward No.12 ) is Residential Class II Type - I.

Where can I find the Sub Registrar Office for T.V.K. 1st st ( Ward No.12 )?

The Sub Registrar Office for T.V.K. 1st st ( Ward No.12 ) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for property in T.V.K. 1st st ( Ward No.12 )?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000.