Guideline Value for 1st Cross Street

1st Cross Street guideline value

The current guideline value of 1st Cross Street in Mamallapuram village is Rs 935 per sq.ft, effective from 1 July 2024. This street falls under the Thirukazhukundram SRO and is classified as Residential Class IV Type - I.

How the guideline value of 1st Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 750 per sq.ft. This value saw a decrease to Rs 502 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 850 per sq.ft, which is a rise of 69%. The most recent revision in 2024 has further increased the value to Rs 935 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 1,650 per sq.ft. The median value among these streets is Rs 935 per sq.ft, which is equal to the 2024 figure for 1st Cross Street.

• 2nd Cross Street: Rs 935 per sq.ft (2024)
• 3rd Cross Street: Rs 935 per sq.ft (2024)
• 4th Cross Street: Rs 825 per sq.ft (2024)
• 5th Cross Street: Rs 825 per sq.ft (2024)
• 6th Cross Street: Rs 825 per sq.ft (2024)
• 7th Cross Street: Rs 825 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value amounts to Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, and the registration fee at 2% would be Rs 18,700, making the total cost for these fees Rs 84,150. 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 to estimate your costs.

Which Sub Registrar Office covers 1st Cross Street?

The 1st Cross Street is covered by the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mamallapuram. It is the minimum value set by the government for property registration, ensuring that the property is not undervalued during the sale process. This value is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to ensure a fair transaction.

Frequently asked questions

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

The current guideline value of 1st Cross Street is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 935 per sq.ft in 2024, with significant changes occurring in 2017 and 2023.

What are the stamp duty and registration fees for properties in 1st Cross Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 84,150.

Which office handles registrations for 1st Cross Street?

The Thirukazhukundram Sub Registrar Office handles registrations for 1st Cross Street, located in Thiruchengode - 637 211, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees during property transactions.