Guideline Value for T.V.K. Street

T.V.K. Street guideline value

The current guideline value of T.V.K. Street in Thiruvottiyur village, under the Thiruvottiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Residential Special Type - I.

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

The guideline value for T.V.K. Street has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the guideline value rose sharply by 49% to reach Rs 3,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value is Rs 3,300 per sq.ft, which aligns with the guideline value of T.V.K. Street.

• T.S.R.Nagar: Rs 3,700 per sq.ft (2024)
• T.S. Gopal Nagar -II: Rs 1,500 per sq.ft (2024)
• T.S. Gopal Nagar-1: Rs 3,300 per sq.ft (2024)
• T.K.S.Nagar: Rs 1,500 per sq.ft (2024)
• T.K.B.Nagar: Rs 1,900 per sq.ft (2024)
• Thuppuravu Paniyalar Kudiyruppu(Sathiyamoorthi Nagar): Rs 2,150 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering T.V.K. Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvottiyur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is sold, the buyer must pay stamp duty based on the higher value between the guideline value and the sale price. This ensures that the registration process is transparent and standardized across all transactions.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the stamp duty rate for properties in T.V.K. Street?

The stamp duty rate for properties in T.V.K. Street is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for T.V.K. Street located?

The Sub Registrar Office for T.V.K. Street is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the guideline values of other streets in Thiruvottiyur?

Other streets in Thiruvottiyur have varying guideline values, ranging from Rs 1,300 to Rs 8,600 per sq.ft, with T.V.K. Street's value aligning with the median of Rs 3,300 per sq.ft.