Guideline Value for T.V.S.AVENUE 40th STREET

T.V.S.AVENUE 40th STREET guideline value

The current guideline value for T.V.S.AVENUE 40th 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 40th STREET has changed

The guideline value for T.V.S.AVENUE 40th STREET has seen several revisions over the years. In 2012, the value was Rs 6,000 per sq.ft. This figure decreased to Rs 4,020 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 6,000 per sq.ft, and in the latest revision for 2024, it rose to Rs 6,600 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

To summarize the changes: from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, and from 2023 to 2024, it rose by 10%. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Padi

In Padi, there are a total of 354 streets under the Villivakkam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, making T.V.S.AVENUE 40th STREET's current figure above that median.

• T.V.S.AVENUE 39th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.Colony: Rs 8,700 per sq.ft (2024)
• T.V.S.AVENUE 38th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.Colony 1st Main Road: Rs 8,700 per sq.ft (2024)
• T.V.S.AVENUE 37th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.Colony 2nd Main Road: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.AVENUE 40th 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, making the total cost for these fees 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.V.S.AVENUE 40th STREET?

The Sub Registrar Office that covers T.V.S.AVENUE 40th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For further assistance, you can find your SRO.

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 benchmark for determining the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately assess the costs involved in the property transfer.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of T.V.S.AVENUE 40th STREET?

The current guideline value of T.V.S.AVENUE 40th 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 2012 to Rs 4,020 per sq.ft in 2017, then increased to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for T.V.S.AVENUE 40th STREET?

T.V.S.AVENUE 40th STREET is classified as Residential Class II Type - III.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For example, for a property valued at Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Where can I find the Sub Registrar Office for T.V.S.AVENUE 40th STREET?

The Sub Registrar Office for T.V.S.AVENUE 40th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.