Guideline Value for T.V.S.NAGAR 2nd STREET

T.V.S.NAGAR 2nd STREET guideline value

The current guideline value of T.V.S.NAGAR 2nd 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 2nd STREET has changed

The guideline value for T.V.S.NAGAR 2nd STREET has seen several revisions over the years. In 2007, the value was set at Rs 850 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 218%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, a drop of 33%. The value then increased sharply to Rs 2,700 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 sees the guideline value rise again to Rs 2,800 per sq.ft, a 4% increase from the previous year.

It is important to note that the guideline register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 229%.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO with 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, indicating that T.V.S.NAGAR 2nd STREET's 2024 figure is below this median.

• T.V.S.Nagar 2nd 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 1st STREET: Rs 2,800 per sq.ft (2024)
• T.V.S.NAGAR 4th 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 5th STREET: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.NAGAR 2nd 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, and 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.V.S.NAGAR 2nd STREET?

The T.V.S.NAGAR 2nd 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 when buying or selling property in Padi. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of T.V.S.NAGAR 2nd STREET?

The current guideline value of T.V.S.NAGAR 2nd STREET is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 850 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 229% over the years.

What are the stamp duty and registration fees for a property in T.V.S.NAGAR 2nd STREET?

For a 1,000 sq.ft plot, the total guideline value is Rs 28,00,000, leading to a stamp duty of Rs 1,96,000 and a registration fee of Rs 56,000, totaling Rs 2,52,000.

Which office handles the registration for T.V.S.NAGAR 2nd STREET?

The Villivakkam Sub Registrar Office handles the registration for T.V.S.NAGAR 2nd STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for T.V.S.NAGAR 2nd STREET?

T.V.S.NAGAR 2nd STREET is classified as Residential Class IV Type - III, which is important for understanding its usage and development potential.