Guideline Value for T.V.S.AVENUE 34TH STREET

T.V.S.Avenue 34th Street guideline value

The current guideline value for T.V.S.Avenue 34th Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of T.V.S.Avenue 34th Street has changed

The guideline value for T.V.S.Avenue 34th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 6,000 per sq.ft. This figure was then revised to Rs 4,020 per sq.ft in 2017, marking a decrease of 33%. In 2023, the value increased to Rs 6,000 per sq.ft, followed by a further increase to Rs 6,600 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for T.V.S.Avenue 34th Street is above this median.

• T.V.S.Avenue 33rd Street: Rs 6,600 per sq.ft (2024)
• T.V.S.Avenue 35th Street: Rs 6,600 per sq.ft (2024)
• T.V.S.Avenue 36th Street: Rs 6,600 per sq.ft (2024)
• T.V.S.Avenue 37th Street: Rs 6,600 per sq.ft (2024)
• T.V.S.Avenue 38th Street: Rs 6,600 per sq.ft (2024)
• T.V.S.Avenue 39th Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.Avenue 34th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. 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 further calculations.

Which Sub Registrar Office covers T.V.S.Avenue 34th Street?

The Sub Registrar Office that covers T.V.S.Avenue 34th Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padi. It serves as a basis for calculating the stamp duty and registration fees, ensuring that these fees are appropriately levied based on the value of the property.

When a property is registered, the guideline value is used to determine the minimum value on which the stamp duty is calculated. This ensures that all transactions are fairly assessed, and the appropriate fees are collected by the registration authorities.

Frequently asked questions

What is the current guideline value of T.V.S.Avenue 34th Street?

The current guideline value of T.V.S.Avenue 34th Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2023 to Rs 6,600 per sq.ft in 2024, marking a 10% increase. It was Rs 4,020 per sq.ft in 2017 and Rs 6,000 per sq.ft in 2012.

What are the guideline values for other streets in Padi?

Other streets in Padi have various guideline values. For example, T.V.S.Avenue 33rd Street, 35th Street, 36th Street, 37th Street, 38th Street, and 39th Street all have a guideline value of Rs 6,600 per sq.ft in 2024.

What is the stamp duty rate for properties in T.V.S.Avenue 34th Street?

The stamp duty rate for properties in T.V.S.Avenue 34th Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for T.V.S.Avenue 34th Street?

The Villivakkam Sub Registrar Office handles property registrations for T.V.S.Avenue 34th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.