Guideline Value for T.V.S.NAGAR 2ND CROSS STREET

T.V.S.Nagar 2nd Cross Street guideline value

The current guideline value of T.V.S.Nagar 2nd 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 falls under the Residential Class IV Type - III land classification.

How the guideline value of T.V.S.Nagar 2nd Cross Street has changed

Looking at the revisions, the guideline value for T.V.S.Nagar 2nd Cross Street has seen several changes over the years. In 2012, the value was Rs 2,700 per sq.ft, which then decreased to Rs 1,809 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly to Rs 2,700 per sq.ft, marking a 49% increase. The latest revision in 2024 has set the value at Rs 2,800 per sq.ft, reflecting a 4% rise from the previous year.

It is important to note that the register does not have 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 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. The guideline value for T.V.S.Nagar 2nd Cross Street is below this median.

• T.V.S.NAGAR 1st 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 1st Cross 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 10th 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 2nd 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 amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, making the total cost for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.V.S.Nagar 2nd Cross Street?

The Sub Registrar Office that covers T.V.S.Nagar 2nd Cross Street is 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 details.

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

The guideline value plays a crucial role in the registration process of 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 through stamp duty and registration fees.

When buying or selling property, the guideline value is assessed to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of T.V.S.Nagar 2nd Cross Street?

The current guideline value of T.V.S.Nagar 2nd 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 changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What are the other streets in Padi with the same guideline value?

Other streets in Padi that share the same guideline value of Rs 2,800 per sq.ft include T.V.S.NAGAR 1st STREET, T.V.S.NAGAR 2nd STREET, T.V.S.Nagar 1st Cross Street, T.V.S.NAGAR 3rd STREET, T.V.S.NAGAR 10th STREET, and T.V.S.NAGAR 4th STREET.

Where can I find the Sub Registrar Office for T.V.S.Nagar 2nd Cross Street?

The Sub Registrar Office for T.V.S.Nagar 2nd Cross Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in T.V.S.Nagar 2nd Cross Street?

The stamp duty for properties in T.V.S.Nagar 2nd Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000.