Guideline Value for T.V.S.AVENUE 38th STREET

T.V.S.AVENUE 38th STREET guideline value

The current guideline value for T.V.S.AVENUE 38th 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 38th STREET has changed

The guideline value for T.V.S.AVENUE 38th STREET has seen several revisions over the years. In 2007, the value was Rs 1,900 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this figure dropped to Rs 4,020 per sq.ft in 2017, before rising to Rs 6,000 per sq.ft again in 2023. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 247%. Notably, the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry 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. T.V.S.AVENUE 38th STREET's 2024 guideline value is above this median.

• T.V.S.AVENUE 37th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.AVENUE 39th 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 40th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.AVENUE 35th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.Colony: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.AVENUE 38th 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 amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers T.V.S.AVENUE 38th STREET?

The T.V.S.AVENUE 38th STREET is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for T.V.S.AVENUE 38th STREET?

The current guideline value for T.V.S.AVENUE 38th 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 1,900 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 247% over the years.

What is the land classification for T.V.S.AVENUE 38th STREET?

T.V.S.AVENUE 38th STREET is classified as Residential Class II Type - III under the Villivakkam SRO.

Where can I find the Sub Registrar Office for T.V.S.AVENUE 38th STREET?

The Sub Registrar Office covering T.V.S.AVENUE 38th STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in T.V.S.AVENUE 38th STREET?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 66,00,000 would incur a stamp duty of Rs 4,62,000 at a rate of 7%.