Guideline Value for 1st Crossroad

1st Crossroad guideline value

The current guideline value of 1st Crossroad in Pungathur village, under the Tiruvallur Joint 1 SRO, is Rs 1,099 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of 1st Crossroad has changed

The guideline value for 1st Crossroad has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it dropped to Rs 670 per sq.ft in 2017, before rising again to Rs 1,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 1,099 per sq.ft.

Looking at the percentage changes, the value increased by 567% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following that, there was a notable increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. The overall change from 2007 to 2024 amounts to an increase of 633%. The register has no figures for 2002 and 2003 for this street.

Guideline values in Pungathur

Pungathur village has a total of 32 streets under the Tiruvallur Joint 1 SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 1,485 per sq.ft, making the 2024 guideline value of 1st Crossroad below that median.

• 2nd Cross Street: Rs 550 per sq.ft (2024)
• 3rd Cross Street: Rs 550 per sq.ft (2024)
• 3rd Street: Rs 550 per sq.ft (2024)
• Vasumathi Nagar: Rs 2,000 per sq.ft (2024)
• Vadavandai Vada Veedi: Rs 550 per sq.ft (2024)
• Thendadaivada Veedhi: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in 1st Crossroad

For a 1,000 sq.ft plot at the current rate of Rs 1,099 per sq.ft, the guideline value would be Rs 10,99,000. The stamp duty at 7% would amount to Rs 76,930, while the registration fee at 2% would be Rs 21,980. Together, the total cost would be Rs 98,910. Please 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 details.

Which Sub Registrar Office covers 1st Crossroad?

The 1st Crossroad 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 Pungathur

The guideline value plays a crucial role in the registration process when buying or selling property in Pungathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is referenced to determine the applicable fees. This ensures that all transactions are recorded accurately and transparently, reflecting the current market conditions as per the latest revisions.

Frequently asked questions

What is the current guideline value of 1st Crossroad?

The current guideline value of 1st Crossroad is Rs 1,099 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,099 per sq.ft in 2024, showing an overall increase of 633% over the years.

What is the land classification of 1st Crossroad?

1st Crossroad is classified under Residential Class I Type - III land classification.

What are the stamp duty and registration fees for a property in 1st Crossroad?

The stamp duty for a property valued at Rs 10,99,000 would be Rs 76,930, and the registration fee would be Rs 21,980, totaling Rs 98,910.

Which office handles registrations for 1st Crossroad?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for 1st Crossroad, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.