Guideline Value for 1'st Cross Street

1'st Cross Street guideline value

The current guideline value of 1'st Cross Street in Periyakuppam village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class III Type - I.

How the guideline value of 1'st Cross Street has changed

In the 2007 revision, the guideline value was Rs 200 per sq.ft. This increased to Rs 500 per sq.ft in the 2012 revision, marking a significant increase of 150%. However, in the 2017 revision, the value decreased to Rs 335 per sq.ft, which was a drop of 33%. The value then rose to Rs 500 per sq.ft in 2023, followed by a further increase to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of 1'st Cross Street is below this median.

• 2'nd Cross Street: Rs 550 per sq.ft (2024)
• V.O.Saminathan Street: Rs 1,100 per sq.ft (2024)
• V.M. Nagar: Rs 1,650 per sq.ft (2024)
• Vivekanatha Salai: Rs 1,320 per sq.ft (2024)
• V.G.P./ Nagar: Rs 1,650 per sq.ft (2024)
• Varadha Rajapuram & Varadha Raja Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in 1'st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total Rs 49,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers 1'st Cross Street?

The 1'st Cross Street is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Periyakuppam. It is used as a benchmark for calculating stamp duty and registration fees when buying or selling property in the area.

When a property is registered, the guideline value will determine the minimum value on which stamp duty is calculated. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of 1'st Cross Street?

The current guideline value of 1'st Cross Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 200 per sq.ft in 2007, rising to Rs 500 in 2012, dropping to Rs 335 in 2017, and then increasing to Rs 500 in 2023, before reaching Rs 550 in 2024.

What is the land classification for 1'st Cross Street?

1'st Cross Street is classified as Residential Class III Type - I, indicating its designation for residential use.

Which Sub Registrar Office handles registrations for this street?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for 1'st Cross Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is the stamp duty calculated for properties in Periyakuppam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%.