Guideline Value for T.V.S.NAGAR 3rd STREET

T.V.S.NAGAR 3rd STREET guideline value

The current guideline value of T.V.S.NAGAR 3rd 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 3rd STREET has changed

The guideline value for T.V.S.NAGAR 3rd STREET has undergone 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, marking a 218% rise. However, this value decreased to Rs 1,809 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the value saw a substantial increase of 49%, reaching Rs 2,700 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, indicating a 4% increase from the previous year. The register does not contain figures for the years 2002 and 2003 for this street.

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 guideline value for these streets is Rs 3,800 per sq.ft, placing T.V.S.NAGAR 3rd STREET's 2024 figure below that median.

• T.V.S.NAGAR 2nd 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 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• T.V.S.NAGAR 5th 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 6th STREET/ 6th Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.NAGAR 3rd 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, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to 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 detailed calculations.

Which Sub Registrar Office covers T.V.S.NAGAR 3rd STREET?

The Sub Registrar Office that covers T.V.S.NAGAR 3rd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Padi. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives due revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are essential for completing the property transaction legally.

Frequently asked questions

What is the current guideline value of T.V.S.NAGAR 3rd STREET?

The current guideline value of T.V.S.NAGAR 3rd 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, reflecting an overall increase of 229% over the years.

What are the stamp duty and registration fees for properties in T.V.S.NAGAR 3rd STREET?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers T.V.S.NAGAR 3rd STREET?

The Villivakkam Sub Registrar Office covers T.V.S.NAGAR 3rd STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of T.V.S.NAGAR 3rd STREET?

T.V.S.NAGAR 3rd STREET falls under the Residential Class IV Type - III land classification.