Guideline Value for T.V.S.COLONY 53rd STREET

T.V.S.COLONY 53rd STREET guideline value

The current guideline value for T.V.S.COLONY 53rd 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 is classified as Residential Special Type - III.

How the guideline value of T.V.S.COLONY 53rd STREET has changed

The guideline value for T.V.S.COLONY 53rd 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, marking a rise of 170%. However, by 2017, the value decreased to Rs 5,360 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 8,000 per sq.ft in 2023, and most recently, it has increased to Rs 8,700 per sq.ft in 2024, which is a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, 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

Padi village has a total of 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 for T.V.S.COLONY 53rd STREET is above this median.

• T.V.S.COLONY 52nd STREET: Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY 54th 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 55th 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 56th STREET: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.COLONY 53rd 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 amount to 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 duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers T.V.S.COLONY 53rd STREET?

The T.V.S.COLONY 53rd 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 information.

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

The guideline value serves as a benchmark for determining the minimum value of property transactions in Padi. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the financial obligations involved in property transactions. Accurate knowledge of the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for T.V.S.COLONY 53rd STREET?

The current guideline value for T.V.S.COLONY 53rd 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 other guideline values in Padi?

Other streets in Padi have guideline values 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 for T.V.S.COLONY 53rd STREET is above this median.

What are the stamp duty and registration fees for properties in T.V.S.COLONY 53rd STREET?

For a 1,000 sq.ft plot, the total guideline value is Rs 87,00,000, leading to a stamp duty of Rs 6,09,000 and a registration fee of Rs 1,74,000, totaling Rs 7,83,000.

Which Sub Registrar Office covers T.V.S.COLONY 53rd STREET?

The Villivakkam Sub Registrar Office covers T.V.S.COLONY 53rd STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.