Guideline Value for T.V.S.COLONY MAIN ROAD

T.V.S.Colony Main Road guideline value

The current guideline value of T.V.S.Colony Main Road in Padi village, under the Villivakkam SRO, is Rs 8,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of T.V.S.Colony Main Road has changed

The guideline value for T.V.S.Colony Main Road has seen several revisions over the years. In the 2007 revision, the value was Rs 2,960 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012, reflecting a rise of 170%. However, in the 2017 revision, the value dropped to Rs 5,360 per sq.ft, marking a decrease of 33%. The 2023 revision set the value at Rs 8,000 per sq.ft, before it increased to the current Rs 8,700 per sq.ft in 2024, a rise of 9%.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 194%.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that have 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, making the current guideline value of T.V.S.Colony Main Road above the median.

• T.V.S.COLONY 56th STREET: Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY MAIN ROAD (Officer's Colony Main Road): Rs 8,700 per sq.ft (2024)
• T.V.S.COLONY 55th 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 53rd 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 Main Road

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 and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.V.S.Colony Main Road?

The T.V.S.Colony Main Road is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 an essential factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the buyer and seller must ensure that the transaction is registered at the Villivakkam SRO, where the guideline value will be used to calculate the applicable fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of T.V.S.Colony Main Road?

The current guideline value of T.V.S.Colony Main Road 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 stamp duty rate for properties in T.V.S.Colony Main Road?

The stamp duty rate for properties in T.V.S.Colony Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Villivakkam Sub Registrar Office?

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

What is the median guideline value in Padi?

The median guideline value for the 354 streets in Padi under the Villivakkam SRO is Rs 3,800 per sq.ft, with T.V.S.Colony Main Road being above this median at Rs 8,700 per sq.ft.