Guideline Value for T.V.S.NAGAR PART (EAST NORTH)

T.V.S.Nagar Part (East North) guideline value

The current guideline value for T.V.S.Nagar Part (East North) 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 Part (East North) has changed

The guideline value for T.V.S.Nagar Part (East North) has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 375 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 700% rise. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 shows a substantial increase to Rs 3,300 per sq.ft, which is a 64% increase from the 2017 figure.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

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 Part (East North) is above this median value.

• T.V.S.Nagar Extension: 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 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 Part (East North)

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, making the total fees 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 the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers T.V.S.Nagar Part (East North)?

The Sub Registrar Office that covers T.V.S.Nagar Part (East North) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. For more information, 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 when it comes to property registration in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, and it helps maintain transparency in real estate dealings.

Frequently asked questions

What is the current guideline value for T.V.S.Nagar Part (East North)?

The current guideline value for T.V.S.Nagar Part (East North) 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 Part (East North)?

T.V.S.Nagar Part (East North) is classified as Residential Special Type - III, indicating its suitability for residential development.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which Sub Registrar Office should I contact for T.V.S.Nagar Part (East North)?

The Villivakkam Sub Registrar Office covers T.V.S.Nagar Part (East North). It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.