Guideline Value for T.V.S.NAGAR AVENUE

T.V.S.Nagar Avenue guideline value

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

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

The guideline value for T.V.S.Nagar Avenue has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 375 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 700%. However, by 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase from the previous year. The register has no figure for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 780%. The 2024 revision of Rs 3,300 per sq.ft shows a substantial increase from the 2017 figure of Rs 2,010 per sq.ft, which highlights the significant changes in the guideline value over the years.

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. The median value for these streets is Rs 2,500 per sq.ft, placing T.V.S.Nagar Avenue's 2024 figure above this median.

• T.V.S.Nagar Annex 2nd Cross Street: 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 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 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 Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 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.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers T.V.S.Nagar Avenue?

The Sub Registrar Office that covers T.V.S.Nagar Avenue 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 details.

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 determining the stamp duty and registration fees that must be paid at the time of property transfer.

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 duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of T.V.S.Nagar Avenue 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 significantly from Rs 375 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

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

T.V.S.Nagar Avenue is classified as Residential Special Type - III under the Villivakkam SRO.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 2,97,000.

Which office handles registrations for T.V.S.Nagar Avenue?

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