Guideline Value for T.V.Nagar

T.V.Nagar guideline value

The current guideline value of T.V.Nagar, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of T.V.Nagar has changed

The guideline value for T.V.Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 750 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, this figure was then reduced to Rs 1,809 per sq.ft in the 2017 revision. The 2023 revision saw a notable increase to Rs 2,700 per sq.ft, followed by a further increase to Rs 2,970 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Overall, the guideline value has increased by 296% from Rs 750 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mogalivakkam

Mogalivakkam village has 98 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, which is the same as the current guideline value for T.V.Nagar.

• T.V.Nagar Extension: Rs 2,970 per sq.ft (2024)
• Udhayam Avenue: Rs 2,860 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 2,860 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 2,860 per sq.ft (2024)
• Vembadi Vinayakar Koil Street (V.V.K.S): Rs 2,860 per sq.ft (2024)
• Thillai Nathamuni Avenue: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that the stamp 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 details.

Which Sub Registrar Office covers T.V.Nagar?

The Sub Registrar Office that covers T.V.Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mogalivakkam. It serves as the baseline for calculating stamp duty and registration fees, ensuring that both parties are aware of the official value assigned to the property.

When a property transaction occurs, the guideline value helps to determine the financial obligations related to the sale. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately assess the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of T.V.Nagar?

The current guideline value of T.V.Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, representing an overall increase of 296%.

What is the median guideline value for streets in Mogalivakkam?

The median guideline value for streets in Mogalivakkam is Rs 2,970 per sq.ft, which is the same as the current value for T.V.Nagar.

What are the stamp duty and registration fees for a property in T.V.Nagar?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900, and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

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

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.