Guideline Value for T.V.K. Street

T.V.K. Street guideline value

The current guideline value of T.V.K. Street in Konnur village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

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

The guideline value for T.V.K. Street has seen significant changes over the years. In the 2002 revision, the value was Rs 449 per sq.ft. This increased to Rs 487 per sq.ft in 2003, marking an 8% rise. The value then rose to Rs 800 per sq.ft by 2007, a substantial increase of 64%. Following this, the 2012 revision saw the value drop to Rs 3,500 per sq.ft, a decrease of 338% from the previous revision. In 2017, the value increased again to Rs 2,345 per sq.ft, reflecting a 49% rise. The 2023 revision set the value at Rs 3,500 per sq.ft, and the latest 2024 revision has raised it to Rs 3,800 per sq.ft, a 9% increase.

Overall, from 2002 to 2024, the guideline value for T.V.K. Street has increased by 746%. There are no other revisions recorded for this street in the register.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, which is equal to the current guideline value of T.V.K. Street. Below are some other streets in Konnur:

• T.V.K. IInd, IIIrd, IVth Street: Rs 3,800 per sq.ft (2024)
• T.V.K. 1 Street: Rs 3,800 per sq.ft (2024)
• Thomas Street: Rs 6,000 per sq.ft (2024)
• Valluvar Nagar (Kattuvan Kuttai): Rs 3,800 per sq.ft (2024)
• Thiruveethiamman Kovil Street: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, resulting in a total of Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers T.V.K. Street?

The Sub Registrar Office that covers T.V.K. Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Konnur. It serves as a benchmark for determining the minimum value of properties for registration purposes. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

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

The current guideline value of T.V.K. Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 449 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, which is an overall increase of 746%.

What is the land classification of T.V.K. Street?

T.V.K. Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for T.V.K. Street?

The registration office for T.V.K. Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Konnur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 38,00,000 would incur a stamp duty of Rs 2,66,000 at the rate of 7%.