Guideline Value for T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar)

T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar) guideline value

The current guideline value of T.V.K. Street 2nd Link Main Road (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. Street 2nd Link Main Road (Thiruvalluvar Nagar) has changed

The guideline value for T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 2,300 per sq.ft, and the current 2024 revision has raised it further to Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value range from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which matches the current guideline value for T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar).

• T.V. Nagar 1st Main Road 1st Street: Rs 2,200 per sq.ft (2024)
• T.V.K Street: Rs 2,500 per sq.ft (2024)
• T.V. Nagar 1st Main Road 1st Street Extension: Rs 2,200 per sq.ft (2024)
• T.V.K. Service Road: Rs 2,500 per sq.ft (2024)
• T.V. Nagar 3rd Line Street: Rs 2,200 per sq.ft (2024)
• T.V.K. Nagar Street (Thiruvalluvar Nagar): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.K. Street 2nd Link Main Road (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 amounts to Rs 25,00,000. The stamp duty charged 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 higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar)?

The T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar) is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the appropriate stamp duty and registration fees are collected based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is essential for legal documentation and ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value of T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar)?

The current guideline value of T.V.K. Street 2nd Link Main Road (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, reflecting a 9% increase. The value also decreased from Rs 2,300 in 2012 to Rs 1,541 in 2017, before increasing again in subsequent revisions.

What is the land classification for T.V.K. Street 2nd Link Main Road?

The land classification for T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar) is Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the registration office for this area?

The registration office for T.V.K. Street 2nd Link Main Road (Thiruvalluvar Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at a rate of 7%.