Guideline Value for T.V.S.NAGAR 1st STREET

T.V.S.NAGAR 1st STREET guideline value

The current guideline value of T.V.S.NAGAR 1st STREET in Padi village, under the Villivakkam SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - III.

How the guideline value of T.V.S.NAGAR 1st STREET has changed

The guideline value for T.V.S.NAGAR 1st STREET has seen several revisions over the years. In 2007, the guideline value was Rs 850 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, it then decreased to Rs 1,809 per sq.ft in 2017. The value increased again to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a substantial increase of 218%. Overall, from 2007 to 2024, the guideline value has increased by 229%. The register has no figures for the years 2002 and 2003 for this street.

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. T.V.S.NAGAR 1st STREET's 2024 guideline value is below this median.

• T.V.S.Nagar 1st Cross 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 10th 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 STREET

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.V.S.NAGAR 1st STREET?

The T.V.S.NAGAR 1st 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 critical factor in the registration process for property transactions in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of T.V.S.NAGAR 1st STREET?

The current guideline value of T.V.S.NAGAR 1st 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 changed from Rs 850 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 229% over the years.

What are the stamp duty and registration fees for properties in T.V.S.NAGAR 1st STREET?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 2,52,000.

Which Sub Registrar Office is responsible for T.V.S.NAGAR 1st STREET?

The Villivakkam Sub Registrar Office covers T.V.S.NAGAR 1st STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for T.V.S.NAGAR 1st STREET?

The land classification for T.V.S.NAGAR 1st STREET is Residential Class IV Type - III.