Guideline Value for T.V.K. NAGAR MAIN VIITH STREET

T.V.K. Nagar Main Viith Street guideline value

The current guideline value of T.V.K. Nagar Main Viith Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thundalam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

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

The guideline value for T.V.K. Nagar Main Viith Street has seen several revisions over the years. In 2012, the value was Rs 1,800 per sq.ft, which changed to Rs 1,206 per sq.ft in 2017, marking a decrease of 33%. The 2023 revision set the value at Rs 1,800 per sq.ft, which then increased to Rs 1,980 per sq.ft in 2024, reflecting a rise of 10%.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing T.V.K. Nagar Main Viith Street's 2024 figure above that median.

• T.V.K. Nagar Main Road: Rs 1,870 per sq.ft (2024)
• T.V.K. Nagar Main Viith Street: Rs 1,980 per sq.ft (2024)
• T.V.K. Nagar Main Ivth Street: Rs 1,980 per sq.ft (2024)
• T.V.K. Nagar Main Vth Street: Rs 1,980 per sq.ft (2024)
• T.Vk. Nagar Main Iind Street: Rs 1,870 per sq.ft (2024)
• T.V.K. Nagar Perumal Koil 1st Street: Rs 1,870 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value is Rs 19,80,000. The stamp duty at 7% amounts to Rs 1,38,600, and the registration fee at 2% is Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.V.K. Nagar Main Viith Street?

The Sub Registrar Office that covers T.V.K. Nagar Main Viith Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Thundalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

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

The current guideline value of T.V.K. Nagar Main Viith Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

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

The land classification for T.V.K. Nagar Main Viith Street is Residential Class III Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for T.V.K. Nagar Main Viith Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Thundalam?

Stamp duty for properties in Thundalam is calculated based on the higher of the guideline value or the sale price. This ensures that the appropriate fees are paid during the registration process, reflecting the true value of the property.