Guideline Value for 3rd cross Street

3rd cross Street guideline value

The current guideline value for 3rd cross Street in Pungathur 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 II Type - III.

How the guideline value of 3rd cross Street has changed

The guideline value for 3rd cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, the value then decreased to Rs 335 per sq.ft in 2017. Following this, the 2023 revision set the value at Rs 500 per sq.ft, which was then raised to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

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

Guideline values in Pungathur

In Pungathur, there are 32 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 1,485 per sq.ft, indicating that the 2024 figure for 3rd cross Street is below that median.

• 3rd Street: Rs 550 per sq.ft (2024)
• 2nd Cross Street: Rs 550 per sq.ft (2024)
• 1st Crossroad: Rs 1,099 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 3rd cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total 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, totaling Rs 49,500. 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 for more details.

Which Sub Registrar Office covers 3rd cross Street?

The 3rd 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 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 determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to assess the applicable duties, ensuring that the transaction is recorded accurately and in compliance with local regulations. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value for 3rd cross Street?

The current guideline value for 3rd 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 changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, marking an overall increase of 175%.

What is the median guideline value in Pungathur?

The median guideline value for streets in Pungathur is Rs 1,485 per sq.ft, with 3rd cross Street's value being below this median.

What are the stamp duty and registration fees for a property in 3rd cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000, resulting in a stamp duty of Rs 38,500 and a registration fee of Rs 11,000, totaling Rs 49,500.

Which office handles registrations for 3rd cross Street?

The Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, handles registrations for 3rd cross Street.