Guideline Value for T.V.S.NAGAR 9th STREET

T.V.S.NAGAR 9th STREET guideline value

The current guideline value of T.V.S.NAGAR 9th STREET is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, classified as Residential Class IV Type - III.

How the guideline value of T.V.S.NAGAR 9th STREET has changed

Over the years, the guideline value of T.V.S.NAGAR 9th STREET has seen several revisions. The earliest recorded figure is from 2007, when it was Rs 850 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a 218% rise. However, the value dropped to Rs 1,809 per sq.ft in 2017, a decrease of 33%. The guideline value then surged to Rs 2,700 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, a 4% increase from the previous year.

It is important to note that there are no recorded figures for T.V.S.NAGAR 9th STREET in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 229%.

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. The median value for these streets is Rs 3,800 per sq.ft, placing T.V.S.NAGAR 9th STREET's 2024 figure below that median.

• T.V.S.NAGAR 7th 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 5th 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 "appar Street": Rs 2,800 per sq.ft (2024)
• T.V.S.NAGAR 3rd STREET: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.NAGAR 9th 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.

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

Which Sub Registrar Office covers T.V.S.NAGAR 9th STREET?

The Sub Registrar Office that covers T.V.S.NAGAR 9th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 plays a crucial role in the registration process when buying or selling property 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 stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and fairly in the official register.

Frequently asked questions

What is the current guideline value of T.V.S.NAGAR 9th STREET?

The current guideline value of T.V.S.NAGAR 9th 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 is the median guideline value for streets in Padi?

The median guideline value for streets in Padi is Rs 3,800 per sq.ft, while T.V.S.NAGAR 9th STREET's value is below this median.

What are the stamp duty and registration fees for property in T.V.S.NAGAR 9th STREET?

The stamp duty is 7% and the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would be Rs 2,52,000.

Which office handles the registration for T.V.S.NAGAR 9th STREET?

The Villivakkam Sub Registrar Office handles the registration for T.V.S.NAGAR 9th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.