Guideline Value for CRESCENT PARK STREET

Crescent Park Street guideline value

The current guideline value of Crescent Park Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - II.

How the guideline value of Crescent Park Street has changed

Over the years, the guideline value of Crescent Park Street has seen significant changes. In the 2002 revision, the value was Rs 2,118 per sq.ft, which increased to Rs 2,351 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 3,139 per sq.ft in 2007, representing a 34% increase. Following this, the 2012 revision saw a decrease to Rs 9,000 per sq.ft, a drop of 33%. However, the value surged to Rs 6,030 per sq.ft in 2017, reflecting a substantial increase of 49%. The 2023 revision set the value at Rs 9,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 9,900 per sq.ft, a rise of 10%.

There are no figures available for the revisions in the years between 2002 and 2017, except for the listed years. Overall, from 2002 to 2024, the guideline value has increased by 367%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values for 2024 ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Crescent Park Street's 2024 figure below this median.

• Crescent Road (East): Rs 8,300 per sq.ft (2024)
• Crescent Road (North): Rs 8,300 per sq.ft (2024)
• Cresent Park Road: Rs 9,900 per sq.ft (2024)
• Corporation Line: Rs 4,400 per sq.ft (2024)
• Corporation Colony West Lane: Rs 4,400 per sq.ft (2024)
• Corporation Colony V Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Crescent Park Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, together totaling Rs 8,91,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Crescent Park Street?

The Sub Registrar Office covering Crescent Park Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Tnagar. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the authorities.

Frequently asked questions

What is the current guideline value of Crescent Park Street?

The current guideline value of Crescent Park Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,118 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 367% over the years.

What is the land classification for Crescent Park Street?

Crescent Park Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property in Crescent Park Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling Rs 8,91,000.

Which Sub Registrar Office covers Crescent Park Street?

The Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35, covers Crescent Park Street.