Guideline Value for T.V.S.NAGAR EAST ANNEX / STREETS

T.V.S.Nagar East Annex / Streets guideline value

The current guideline value for T.V.S.Nagar East Annex / Streets 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 East Annex / Streets has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value saw an increase of 64%, reaching the current rate of Rs 3,300 per sq.ft. The register has no figure for the years 2023, 2007, 2003, and 2002 for this street.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 10% in the guideline value. This indicates fluctuations in the value over the years, with significant changes occurring between the 2017 and 2024 revisions.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have 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. The guideline value for T.V.S.Nagar East Annex / Streets is above this median.

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

Stamp duty and registration fee for property in T.V.S.Nagar East Annex / Streets

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, 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 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 East Annex / Streets?

The T.V.S.Nagar East Annex / Streets are covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the transaction is registered at a value recognized by the government, facilitating a transparent process.

Frequently asked questions

What is the current guideline value for T.V.S.Nagar East Annex / Streets?

The current guideline value for T.V.S.Nagar East Annex / Streets 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 seen several revisions, with the most significant changes occurring from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, representing a 64% increase.

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

The land classification for T.V.S.Nagar East Annex / Streets is Residential Special Type - III.

Where is the Villivakkam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in T.V.S.Nagar East Annex / Streets?

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