Guideline Value for T.V.S. Nagar

T.V.S. Nagar guideline value

The current guideline value of T.V.S. Nagar, located in Naravarikuppam village under the Redhills SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

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

The guideline value for T.V.S. Nagar has undergone several revisions over the years. The earliest recorded figure in the register is from 2002, with a guideline value of Rs 3,283 per sq.ft. This was followed by a significant decrease to Rs 335 per sq.ft in 2003, and then an increase to Rs 500 per sq.ft in 2007. The value rose sharply to Rs 2,000 per sq.ft in 2012, before dropping again to Rs 1,340 per sq.ft in 2017. The 2023 revision saw a rise to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft.

Changes between these revisions reflect fluctuations in the guideline value. From 2002 to 2003, there was a decrease of 90%. The value increased by 49% from 2003 to 2007, and then surged by 300% from 2007 to 2012. However, from 2012 to 2017, the value decreased by 33%. A significant increase of 49% was noted from 2017 to 2023, followed by a 10% rise from 2023 to 2024. Overall, the guideline value has decreased by 33% from 2002 to 2024.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing T.V.S. Nagar's 2024 figure above this median.

• T.V.S. Fathima Street: Rs 2,200 per sq.ft (2024)
• Vallalar Nagar Street: Rs 2,200 per sq.ft (2024)
• Vallimayil Market City: Rs 2,210 per sq.ft (2024)
• Thirvalluvar Street: Rs 1,650 per sq.ft (2024)
• Thiru.Vi.Ka. Street: Rs 3,300 per sq.ft (2024)
• Venu Gopal Swamy Koil Street: Rs 1,650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers T.V.S. Nagar?

The Sub Registrar Office covering T.V.S. Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions within Naravarikuppam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers must ensure that the sale price is either equal to or higher than the guideline value to avoid any discrepancies during registration.

When registering property, the guideline value is referenced to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of T.V.S. Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,283 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various fluctuations in between, including significant increases and decreases.

What is the registration office for T.V.S. Nagar?

The registration office for T.V.S. Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for property in T.V.S. Nagar?

Stamp duty for property in T.V.S. Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,54,000 based on the current guideline value.

What are the other streets in Naravarikuppam with similar guideline values?

Other streets in Naravarikuppam with similar guideline values include T.V.S. Fathima Street and Vallalar Nagar Street, both at Rs 2,200 per sq.ft, and Vallimayil Market City at Rs 2,210 per sq.ft.