Guideline Value for Tuticorin Vellaisamy Street

Tuticorin Vellaisamy Street guideline value

The current guideline value of Tuticorin Vellaisamy Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Tuticorin Vellaisamy Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. The most recent revision in 2024 has increased this value to Rs 1,600 per sq.ft, marking a change of +7% from the previous figure. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Thus, the only revisions recorded for Tuticorin Vellaisamy Street are from 2012 and 2024, showing a clear upward adjustment in the guideline value over this period.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current value of Tuticorin Vellaisamy Street.

• T.V.K. 1st st ( Ward No.12 ): Rs 1,600 per sq.ft (2024)
• T.V.K. 2nd st ( Ward No.12 ): Rs 1,600 per sq.ft (2024)
• T.V.K. 6th Cross Street (Ward-12): Rs 1,600 per sq.ft (2024)
• T.V.K. 6th cross st ( Ward No.13 ): Rs 1,600 per sq.ft (2024)
• T.V.K.Nagar 3rd st ( Ward No.13 ): Rs 1,600 per sq.ft (2024)
• T.V.K.Nagar 4th st ( Ward No.13 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Tuticorin Vellaisamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Tuticorin Vellaisamy Street?

The Tuticorin Vellaisamy Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the buying or selling of property.

When a property is registered, the authorities will assess either the guideline value or the sale price, whichever is higher, to determine the applicable charges. This ensures that the registration process is compliant with the established regulations.

Frequently asked questions

What is the current guideline value of Tuticorin Vellaisamy Street?

The current guideline value of Tuticorin Vellaisamy Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, reflecting a +7% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the classification of land on Tuticorin Vellaisamy Street?

Tuticorin Vellaisamy Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total of Rs 1,44,000 in fees based on the current guideline value.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.