Guideline Value for T.V.S.COLONY 49th STREET

T.V.S.COLONY 49th STREET guideline value

The current guideline value for T.V.S.COLONY 49th STREET is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Special Type - III.

How the guideline value of T.V.S.COLONY 49th STREET has changed

The guideline value for T.V.S.COLONY 49th STREET has seen several revisions over the years. In 2007, the value was Rs 2,960 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, this figure dropped to Rs 5,360 per sq.ft in 2017. Following this, the value rose sharply to Rs 8,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 8,700 per sq.ft. It is important to note that there are no figures for this street in the register for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 9%. Notably, the overall change from 2007 to 2024 reflects a substantial increase of 194% in the guideline value per sq.ft.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing T.V.S.COLONY 49th STREET above this median.

• T.V.S.COLONY 48th 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 47th STREET: Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY 51st 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 52nd STREET: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.COLONY 49th 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 fees to Rs 7,83,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers T.V.S.COLONY 49th STREET?

The Sub Registrar Office that covers T.V.S.COLONY 49th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near 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 is a crucial factor during the registration process of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value must be considered alongside the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for T.V.S.COLONY 49th STREET?

The current guideline value for T.V.S.COLONY 49th 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 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 the years.

What are the stamp duty and registration fees for property in T.V.S.COLONY 49th STREET?

For a 1,000 sq.ft plot, the total guideline value is 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.

Which Sub Registrar Office covers T.V.S.COLONY 49th STREET?

The Villivakkam Sub Registrar Office covers T.V.S.COLONY 49th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher value between the guideline and sale price is used for calculating the applicable fees.