Guideline Value for T.V.S.NAGAR 5th STREET

T.V.S.NAGAR 5th STREET guideline value

The current guideline value of T.V.S.NAGAR 5th STREET is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Padi village and falls under the Villivakkam SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of T.V.S.NAGAR 5th STREET has changed

The guideline value for T.V.S.NAGAR 5th STREET has undergone several revisions over the years. In 2007, the value was Rs 850 per sq.ft, which saw a significant increase 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 decline of 33%. The value then increased substantially to Rs 2,700 per sq.ft in 2023, reflecting a 49% increase. 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.

It is important to note that the 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 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median value in this area is Rs 3,800 per sq.ft, which means that T.V.S.NAGAR 5th STREET's 2024 figure is below that median.

• T.V.S.NAGAR 4th STREET: Rs 2,800 per sq.ft (2024)
• T.V.S.NAGAR 6th STREET/ 6th 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 7th 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 9th STREET: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.NAGAR 5th 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, bringing the total 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 accurate calculations.

Which Sub Registrar Office covers T.V.S.NAGAR 5th STREET?

The Sub Registrar Office that covers T.V.S.NAGAR 5th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near 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 an essential factor when registering property transactions in Padi. It serves as a basis for calculating the stamp duty and registration fees that buyers and sellers must pay during the transaction process.

When buying or selling property, it is crucial to consider the guideline value, as it ensures that the transaction is recorded at a fair value according to government regulations. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of T.V.S.NAGAR 5th STREET?

The current guideline value of T.V.S.NAGAR 5th 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 several changes, starting from Rs 850 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 229% since 2007.

What is the land classification of T.V.S.NAGAR 5th STREET?

The land classification for T.V.S.NAGAR 5th STREET is Residential Class IV Type - III.

Where is the Sub Registrar Office located for T.V.S.NAGAR 5th STREET?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office.

How is stamp duty calculated for property in T.V.S.NAGAR 5th STREET?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 1,96,000.