Guideline Value for T.V.K.STREET

T.V.K.Street guideline value

The current guideline value of T.V.K.Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

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 1,800 per sq.ft. This increased to Rs 4,500 per sq.ft in 2012, marking a significant rise of 150%. However, the value then decreased to Rs 3,015 per sq.ft in 2017, representing a decline of 33%. The following revision in 2023 saw the value rise to Rs 4,500 per sq.ft, and further increased to Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for T.V.K.Street. Overall, from 2007 to 2024, the guideline value has increased by 172%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. T.V.K.Street's current guideline value is below this median.

• T.V.H.LUMBINI SQUARE: Rs 10,800 per sq.ft (2024)
• Uppira Narayanan 1st Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan 2nd Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan 3rd Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan Street: Rs 4,400 per sq.ft (2024)
• Uppira Valluvan Street: Rs 4,400 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 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, charged at 7%, would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees together to Rs 4,41,000. 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.Street?

The Sub Registrar Office covering T.V.K.Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that must be paid when registering a property. Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction.

When a property is sold, the guideline value serves as a benchmark for the transaction. The registration office uses this value to calculate the necessary fees, ensuring that all transactions are conducted in accordance with the established guidelines.

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 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 172% over the years.

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

T.V.K.Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for property in T.V.K.Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,41,000.

Which office handles registrations for T.V.K.Street?

The Purasaivakkam Sub Registrar Office handles registrations for T.V.K.Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.