Guideline Value for T.V.K. Nagar Street (Thiruvalluvar Nagar)

T.V.K. Nagar Street (Thiruvalluvar Nagar) guideline value

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

How the guideline value of T.V.K. Nagar Street (Thiruvalluvar Nagar) has changed

The guideline value for T.V.K. Nagar Street (Thiruvalluvar Nagar) has seen 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. This marked a decrease of 33%. In the following years, the guideline value increased significantly, reaching Rs 2,300 per sq.ft in 2023, and then rising to Rs 2,500 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the current 2024 figure, 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, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value across these streets is Rs 2,500 per sq.ft, placing T.V.K. Nagar Street (Thiruvalluvar Nagar) at this median value.

• T.V.K. Service Road: Rs 2,500 per sq.ft (2024)
• T.V.K Street: 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. Nagar Street (Thiruvalluvar Nagar)

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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.V.K. Nagar Street (Thiruvalluvar Nagar)?

The Madhavaram Sub Registrar Office covers T.V.K. Nagar Street (Thiruvalluvar Nagar). The office is 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

When buying or selling property in Erukancherry, the guideline value is a critical factor in determining the registration fees and stamp duty applicable to the transaction. The guideline value serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly affect the total cost involved in the buying or selling process. Proper knowledge of the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of T.V.K. Nagar Street (Thiruvalluvar Nagar)?

The current guideline value of T.V.K. Nagar Street (Thiruvalluvar Nagar) 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 2023 to Rs 2,500 per sq.ft in 2024, marking a 9% increase. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification for T.V.K. Nagar Street (Thiruvalluvar Nagar)?

The land classification for T.V.K. Nagar Street (Thiruvalluvar Nagar) is Residential Class III Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in T.V.K. Nagar Street (Thiruvalluvar Nagar)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,75,000.