Guideline Value for T.V.S.COLONY

T.V.S.Colony guideline value

The current guideline value of T.V.S.Colony, located 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 has changed

The guideline value for T.V.S.Colony has undergone several revisions over the years. In 2002, the value was Rs 926 per sq.ft, which increased to Rs 1,040 per sq.ft in 2003. Following that, the value saw significant increases, reaching Rs 2,960 per sq.ft in 2007 and then Rs 8,000 per sq.ft in 2012. However, it decreased to Rs 5,360 per sq.ft in 2017. The value remained at Rs 8,000 per sq.ft in 2023, before rising to the current value of Rs 8,700 per sq.ft in 2024.

Between the revisions, the most notable changes include a 9% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a 170% increase from 2007 to 2012. Overall, from 2002 to 2024, the guideline value has increased by 840%.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO, with 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, and T.V.S.Colony's 2024 figure of Rs 8,700 per sq.ft is above this median.

• T.V.S.AVENUE 40th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.Colony 1st Main Road: Rs 8,700 per sq.ft (2024)
• T.V.S.AVENUE 39th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.Colony 2nd Main Road: Rs 8,700 per sq.ft (2024)
• T.V.S.AVENUE 38th STREET: Rs 6,600 per sq.ft (2024)
• T.V.S.COLONY 42nd STREET: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.Colony

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, totaling 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 details, you can use the stamp duty and registration fee calculator.

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

The T.V.S.Colony area is covered by 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 a crucial factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

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

The current guideline value of T.V.S.Colony is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 926 per sq.ft in 2002 to Rs 8,700 per sq.ft in 2024, representing an overall increase of 840% over this period.

What is the land classification of T.V.S.Colony?

T.V.S.Colony is classified as Residential Special Type - III, which indicates the type of development permitted in the area.

Where can I find the registration office for T.V.S.Colony?

The registration office covering T.V.S.Colony is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated in T.V.S.Colony?

Stamp duty in T.V.S.Colony is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.