Guideline Value for T.V.S.COLONY 48th STREET

T.V.S.COLONY 48th STREET guideline value

The current guideline value of T.V.S.COLONY 48th STREET is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO and falls under the Residential Special Type - III land classification.

How the guideline value of T.V.S.COLONY 48th STREET has changed

The guideline value for T.V.S.COLONY 48th STREET has seen significant changes over the years. In 2007, the guideline value was Rs 2,960 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012. However, it then decreased to Rs 5,360 per sq.ft in 2017. The value rose again to Rs 8,000 per sq.ft in 2023, before reaching the current value of Rs 8,700 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, followed by a further increase of 9% from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 194%. The fluctuations in the guideline value highlight the dynamic nature of property assessment in this area.

Guideline values in Padi

In Padi, a total of 354 streets under the Villivakkam SRO 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. T.V.S.COLONY 48th STREET's 2024 guideline value is above this median, indicating a higher valuation compared to many other streets in the area.

• T.V.S.COLONY 47th STREET: Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY 49th STREET: Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY 46th STREET: Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY 50th STREET: Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY 45th STREET: Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY 51st STREET: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.COLONY 48th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total cost for these fees to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.V.S.COLONY 48th STREET?

The T.V.S.COLONY 48th STREET falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for buying or selling property in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during transactions.

Frequently asked questions

What is the current guideline value of T.V.S.COLONY 48th STREET?

The current guideline value of T.V.S.COLONY 48th STREET is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,960 per sq.ft in 2007 to Rs 8,700 per sq.ft in 2024, reflecting an overall increase of 194% over this period.

What is the land classification for T.V.S.COLONY 48th STREET?

T.V.S.COLONY 48th STREET is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

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

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000.

Where can I find the Sub Registrar Office for T.V.S.COLONY 48th STREET?

The Sub Registrar Office for T.V.S.COLONY 48th STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.