Guideline Value for T.VK. NAGAR MAIN IIND STREET

T.Vk. Nagar Main Iind Street guideline value

The current guideline value for T.Vk. Nagar Main Iind Street is Rs 1,870 per sq.ft. This street is located in Thundalam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of T.Vk. Nagar Main Iind Street has changed

The guideline value for T.Vk. Nagar Main Iind Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,700 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,139 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,700 per sq.ft, and then further rose to Rs 1,870 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value increased by 10%. The change from 2023 to 2024 represents a 10% increase, while the change from 2017 to 2023 shows a 49% increase. The fluctuation in values reflects the revisions made over the years, highlighting the dynamic nature of property valuation.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, which is equal to the current guideline value for T.Vk. Nagar Main Iind Street.

• T.V.K. Nagar Main Iiird Street: Rs 1,980 per sq.ft (2024)
• T.V.K. Nagar Main Ivth Street: Rs 1,980 per sq.ft (2024)
• T.V.K. Nagar Main 1st Street: Rs 1,980 per sq.ft (2024)
• T.V.K. Nagar Main Road: Rs 1,870 per sq.ft (2024)
• T.V.K. Nagar Main Viith Street: Rs 1,980 per sq.ft (2024)
• T.V.K. Nagar Main Vith Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in T.Vk. Nagar Main Iind Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total cost for these fees to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate estimates based on your specific property details.

Which Sub Registrar Office covers T.Vk. Nagar Main Iind Street?

The Sub Registrar Office that covers T.Vk. Nagar Main Iind Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Thundalam

The guideline value plays a crucial role during the registration process of property transactions in Thundalam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area. The guideline value is set by the Registration Department and reflects the market conditions for the specific locality.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, which is essential for maintaining public services and infrastructure in the region.

Frequently asked questions

What is the current guideline value for T.Vk. Nagar Main Iind Street?

The current guideline value for T.Vk. Nagar Main Iind Street is Rs 1,870 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then increased to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What are the other streets in Thundalam with their guideline values?

Other streets in Thundalam have varying guideline values, with T.V.K. Nagar Main Iiird Street, T.V.K. Nagar Main Ivth Street, T.V.K. Nagar Main 1st Street, T.V.K. Nagar Main Road, T.V.K. Nagar Main Viith Street, and T.V.K. Nagar Main Vith Street all having values ranging from Rs 1,870 to Rs 1,980 per sq.ft in 2024.

What is the stamp duty rate for properties in T.Vk. Nagar Main Iind Street?

The stamp duty rate for properties in T.Vk. Nagar Main Iind Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for T.Vk. Nagar Main Iind Street?

The Sub Registrar Office for T.Vk. Nagar Main Iind Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.