Guideline Value for T.V.K. Service Road

T.V.K. Service Road guideline value

The current guideline value of T.V.K. Service Road in Erukancherry village, under the Madhavaram SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of T.V.K. Service Road has changed

The guideline value for T.V.K. Service Road has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 2,300 per sq.ft in 2023, before reaching the current value of Rs 2,500 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. However, the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, 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 is Rs 2,500 per sq.ft, making T.V.K. Service Road's 2024 figure equal to this median.

• T.V.K. Nagar Street (Thiruvalluvar Nagar): 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. Service Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers T.V.K. Service Road?

The T.V.K. Service 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 the registration process when buying or selling property in Erukancherry. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value set by the government. This ensures that the transaction is officially recorded and that the necessary taxes are collected.

Frequently asked questions

What is the current guideline value of T.V.K. Service Road?

The current guideline value of T.V.K. Service 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 2023 to Rs 2,500 per sq.ft in 2024, reflecting a 9% increase. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012, indicating fluctuations over the years.

What is the land classification for T.V.K. Service Road?

T.V.K. Service Road falls under the Residential Class III Type - I land classification, which is relevant for property registration and valuation purposes.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,25,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.