Guideline Value for T.V.S.COLONY 50th STREET

T.V.S.COLONY 50th STREET guideline value

The current guideline value of T.V.S.COLONY 50th 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 the land classification is Residential Special Type - III.

How the guideline value of T.V.S.COLONY 50th STREET has changed

The guideline value for T.V.S.COLONY 50th STREET has seen several revisions over the years. The 2007 revision set the value at Rs 2,960 per sq.ft, which then increased significantly to Rs 8,000 per sq.ft in the 2012 revision. However, this value decreased to Rs 5,360 per sq.ft in the 2017 revision. The following year, in 2023, the value rose to Rs 8,000 per sq.ft, and the most recent 2024 revision has set it at Rs 8,700 per sq.ft.

From 2017 to 2023, the increase was 49%, while from 2023 to 2024, the change was 9%. The overall change from 2007 to 2024 reflects a significant increase of 194% in the guideline value.

Guideline values in Padi

In Padi, 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. The median value for these streets is Rs 3,800 per sq.ft, placing T.V.S.COLONY 50th STREET above this median.

• T.V.S.COLONY 49th 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 48th STREET: Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY 52nd 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 53rd STREET: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.COLONY 50th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be 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, making the total cost for these fees Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers T.V.S.COLONY 50th STREET?

The T.V.S.COLONY 50th STREET falls under 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 is a crucial factor during the registration of property transactions in Padi. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. The higher of the guideline value and the sale price will be used to calculate the applicable stamp duty and registration fees, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of T.V.S.COLONY 50th STREET?

The current guideline value of T.V.S.COLONY 50th 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 increased 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 is the land classification for T.V.S.COLONY 50th STREET?

The land classification for T.V.S.COLONY 50th STREET is Residential Special Type - III, indicating its designated use for residential purposes.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in T.V.S.COLONY 50th STREET?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 87,00,000 would incur a stamp duty of Rs 6,09,000.