Guideline Value for CRESCENT ROAD (EAST)

Crescent Road (East) guideline value

The current guideline value of Crescent Road (East) is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Crescent Road (East) has changed

The guideline value for Crescent Road (East) has undergone several revisions over the years. In 2002, the value was Rs 1,208 per sq.ft, which increased to Rs 1,341 per sq.ft in 2003, marking an increase of 11%. The value then saw a significant rise to Rs 4,000 per sq.ft in 2007, reflecting a growth of 198%. Following this, the value rose to Rs 7,500 per sq.ft in 2012, which was an increase of 88%. However, it then decreased to Rs 5,025 per sq.ft in 2017, showing a decline of 33%. The value rebounded to Rs 7,500 per sq.ft in 2023, before reaching the current figure of Rs 8,300 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 587%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, indicating that Crescent Road (East) is below this median.

• Crescent Park Street: Rs 9,900 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 Road (East)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value amounts to Rs 83,00,000. The stamp duty at 7% would be Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total fees together to Rs 7,47,000. 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 accurate calculations.

Which Sub Registrar Office covers Crescent Road (East)?

The Sub Registrar Office that covers Crescent Road (East) is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is in line with the guideline value, as the registration office will use the higher of the two figures to calculate the applicable fees. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Crescent Road (East)?

The current guideline value of Crescent Road (East) is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,208 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, showing an overall increase of 587% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 8,300 per sq.ft, the total guideline value for a 1,000 sq.ft plot would be Rs 83,00,000, with stamp duty and registration fees totaling Rs 7,47,000.

Which Sub Registrar Office is responsible for Crescent Road (East)?

The Thiyagaraya nagar Sub Registrar Office is responsible for Crescent Road (East), located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for Crescent Road (East)?

Crescent Road (East) falls under the Residential Class II Type - I land classification, indicating its suitability for residential development.