Guideline Value for CRR PURAM 2ND MAIN ROAD 2ND CROSS STREET

Crr Puram 2nd Main Road 2nd Cross Street guideline value

The current guideline value of Crr Puram 2nd Main Road 2nd Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Crr Puram 2nd Main Road 2nd Cross Street has changed

Over the years, the guideline value of Crr Puram 2nd Main Road 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which was later revised to Rs 1,541 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 2,530 per sq.ft, a 10% increase from the previous year.

It is important to note that the guideline value register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value is Rs 2,530 per sq.ft, which is equal to the current guideline value of Crr Puram 2nd Main Road 2nd Cross Street.

• Crr Puram 2nd Main Road 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Crr Puram 2nd Street: Rs 2,530 per sq.ft (2024)
• Crr Puram 2nd Main: Rs 3,300 per sq.ft (2024)
• Crr Puram 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Crr Puram 2nd Left Cross Street: Rs 3,300 per sq.ft (2024)
• Crr Puram 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Crr Puram 2nd Main Road 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. 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 Crr Puram 2nd Main Road 2nd Cross Street?

The Sub Registrar Office that covers Crr Puram 2nd Main Road 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Crr Puram 2nd Main Road 2nd Cross Street?

The current guideline value of Crr Puram 2nd Main Road 2nd Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,530 per sq.ft in 2024, reflecting a 10% increase. From 2017 to 2023, it increased by 49% from Rs 1,541 per sq.ft to Rs 2,300 per sq.ft.

What is the land classification for this street?

Crr Puram 2nd Main Road 2nd Cross Street is classified as Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office for Crr Puram 2nd Main Road 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated on property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 25,30,000, the stamp duty at 7% would be Rs 1,77,100.