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

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

The current guideline value for T.V.S.Nagar Annex 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam SRO and is classified as Residential Special Type - III.

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

The guideline value for T.V.S.Nagar Annex 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 3,000 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing T.V.S.Nagar Annex 2nd Cross Street's 2024 figure above the median.

• T.V.S.Nagar Annex 1 To 3: Rs 3,300 per sq.ft (2024)
• T.V.S.Nagar Annex: Rs 3,300 per sq.ft (2024)
• T.V.S.Nagar Avenue: Rs 3,300 per sq.ft (2024)
• T.V.S.Nagar East Annex / Streets: Rs 3,300 per sq.ft (2024)
• T.V.S.Nagar Extension: Rs 3,300 per sq.ft (2024)
• T.V.S.Nagar Part (East North): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in T.V.S.Nagar Annex 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Annex 2nd Cross Street?

The T.V.S.Nagar Annex 2nd Cross Street falls under the jurisdiction of 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 Korattur

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the current guideline value as it impacts the overall cost involved in the registration process. Buyers and sellers should ensure they are informed about the latest revisions to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value for T.V.S.Nagar Annex 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for T.V.S.Nagar Annex 2nd Cross Street?

T.V.S.Nagar Annex 2nd Cross Street is classified as Residential Special Type - III.

Which office handles registrations for this area?

The Villivakkam Sub Registrar Office handles registrations for T.V.S.Nagar Annex 2nd Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would amount to Rs 2,31,000.