Guideline Value for T.V.S.NAGAR ANNEX

T.V.S.Nagar Annex guideline value

The current guideline value for T.V.S.Nagar Annex is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of T.V.S.Nagar Annex has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This remained unchanged until the 2023 revision, where it was again Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. The only revisions with figures for T.V.S.Nagar Annex are from 2012, 2023, and 2024.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. T.V.S.Nagar Annex's current guideline value of Rs 3,300 per sq.ft is above this median.

• T.V.S.Nagar Annex 1 To 3: Rs 3,300 per sq.ft (2024)
• T.V.S.Nagar Annex 2nd Cross Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and 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 Annex?

The Sub Registrar Office that covers T.V.S.Nagar Annex 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 Korattur

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per the government's guidelines.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of T.V.S.Nagar Annex?

The current guideline value of T.V.S.Nagar Annex 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 3,300 per sq.ft in 2024, reflecting a 10% increase over this period.

What are the stamp duty and registration fees for property in T.V.S.Nagar Annex?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for T.V.S.Nagar Annex?

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

What is the land classification for T.V.S.Nagar Annex?

The land classification for T.V.S.Nagar Annex is Residential Special Type - III, indicating its designated use for residential purposes.