Guideline Value for T.V.S.COLONY 51st STREET

T.V.S.COLONY 51st STREET guideline value

The current guideline value of T.V.S.COLONY 51st STREET is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - III.

How the guideline value of T.V.S.COLONY 51st STREET has changed

The guideline value for T.V.S.COLONY 51st STREET has seen several revisions over the years. The earliest available figure is from the 2007 revision, which was Rs 2,960 per sq.ft. This increased to Rs 8,000 per sq.ft in 2012, representing a significant rise of 170%. However, the value then decreased to Rs 5,360 per sq.ft in 2017, marking a decline of 33%. The value continued to increase to Rs 8,000 per sq.ft in 2023, and finally, the current 2024 revision shows a further increase to Rs 8,700 per sq.ft, which is a rise of 9% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 194%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

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. The guideline value of T.V.S.COLONY 51st STREET is above this median.

• T.V.S.COLONY 50th 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 49th STREET: Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY 53rd 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 54th STREET: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.COLONY 51st 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 to 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers T.V.S.COLONY 51st STREET?

The Sub Registrar Office that covers T.V.S.COLONY 51st STREET is 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 information.

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

The guideline value is crucial when buying or selling property in Padi, as it determines the minimum value on which stamp duty and registration fees are calculated. This ensures that the property is registered at a value recognized by the government, which helps in maintaining transparency in real estate transactions.

When a buyer or seller engages in a transaction, the guideline value serves as a reference point for both parties to ensure that the sale price is in line with government valuations. This helps to avoid disputes and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for T.V.S.COLONY 51st STREET?

The current guideline value for T.V.S.COLONY 51st 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 is the land classification for T.V.S.COLONY 51st STREET?

The land classification for T.V.S.COLONY 51st STREET is Residential Special Type - III.

What are the stamp duty and registration fees for property in T.V.S.COLONY 51st STREET?

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.

Which office handles registrations for T.V.S.COLONY 51st STREET?

The Villivakkam Sub Registrar Office handles registrations for T.V.S.COLONY 51st STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.