Guideline Value for T.V.S.NAGAR 1ST CROSS STREET

T.V.S.Nagar 1st Cross Street guideline value

The current guideline value for T.V.S.Nagar 1st Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO and is classified as Residential Class IV Type - III.

How the guideline value of T.V.S.Nagar 1st Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,700 per sq.ft. This figure then decreased to Rs 1,809 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,700 per sq.ft, reflecting a rise of 49%. The most recent 2024 revision shows a further increase to Rs 2,800 per sq.ft, which is a 4% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 4%.

Guideline values in Padi

In Padi, there are a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,800 per sq.ft, indicating that T.V.S.Nagar 1st Cross Street's 2024 figure is below this median.

• T.V.S.NAGAR 10th STREET: Rs 2,800 per sq.ft (2024)
• T.V.S.NAGAR 1st STREET: Rs 2,800 per sq.ft (2024)
• T.V.S.Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• T.V.S.NAGAR 2nd STREET: Rs 2,800 per sq.ft (2024)
• T.V.S.NAGAR 3rd STREET: Rs 2,800 per sq.ft (2024)
• T.V.S.NAGAR 4th STREET: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for these charges would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers T.V.S.Nagar 1st Cross Street?

The T.V.S.Nagar 1st Cross Street falls under 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 a crucial factor during property registration in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transaction. Therefore, understanding the guideline value is vital for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value for T.V.S.Nagar 1st Cross Street?

The current guideline value for T.V.S.Nagar 1st Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes: from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then back to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for T.V.S.Nagar 1st Cross Street?

T.V.S.Nagar 1st Cross Street is classified as Residential Class IV Type - III, indicating its zoning for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 2,52,000 in charges.

Which office handles registrations for T.V.S.Nagar 1st Cross Street?

The Villivakkam Sub Registrar Office handles registrations for T.V.S.Nagar 1st Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.