Guideline Value for T.V.S.NAGAR EXTENSION

T.V.S.Nagar Extension guideline value

The current guideline value of T.V.S.Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area 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 Extension has changed

The guideline value for T.V.S.Nagar Extension has seen significant changes over the years. The earliest recorded revision in 2002 was Rs 103 per sq.ft, which increased dramatically to Rs 375 per sq.ft in 2007, marking a rise of 264%. The value then surged to Rs 3,000 per sq.ft in 2012, a notable increase of 700%. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise from the previous year.

It is important to note that there is no recorded figure for the year 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 3104%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values 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 Extension's 2024 figure above the median.

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

Stamp duty and registration fee for property in T.V.S.Nagar Extension

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 fees together 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 detailed calculations.

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

The Sub Registrar Office that covers T.V.S.Nagar Extension is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find more details, you can find your SRO.

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 minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the property transaction.

Frequently asked questions

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

The current guideline value of T.V.S.Nagar Extension 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 103 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 3104% over the years.

What is the registration office for T.V.S.Nagar Extension?

The Villivakkam Sub Registrar Office covers T.V.S.Nagar Extension, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total fees would amount to Rs 2,97,000.

What are the other streets in Korattur with similar guideline values?

Other streets in Korattur under the Villivakkam SRO have a guideline value of Rs 3,300 per sq.ft as well, including T.V.S.Nagar East Annex, T.V.S.Nagar Part (East North), T.V.S.Nagar Avenue, T.V.S.Nagar Annex 2nd Cross Street, T.V.S.Nagar Annex 1 To 3, and T.V.S.Nagar Annex.