Guideline Value for Cherian Nagar 1st Cross Street

Cherian Nagar 1st Cross Street guideline value

The current guideline value of Cherian Nagar 1st Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Cherian Nagar 1st Cross Street has changed

Over the years, the guideline value for Cherian Nagar 1st Cross Street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2012 revision, marking a 100% rise. However, the value then decreased to Rs 804 per sq.ft in the 2017 revision, a drop of 33%. The 2023 revision saw a significant increase to Rs 1,200 per sq.ft, followed by the current 2024 revision which further raised it to Rs 1,300 per sq.ft, an increase of 8%.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. It is important to note that the register has no figure for this street in the years 2002 and 2003.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Cherian Nagar 1st Cross Street's 2024 figure below that median.

• Cherian Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar Main Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Cherian Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cherian Nagar 1st Cross Street?

The Sub Registrar Office that covers Cherian Nagar 1st Cross Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

When a property is registered, the authorities will assess the property based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Cherian Nagar 1st Cross Street?

The current guideline value of Cherian Nagar 1st Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office handles registrations for this street?

The Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, handles registrations for Cherian Nagar 1st Cross Street.

What is the land classification for Cherian Nagar 1st Cross Street?

Cherian Nagar 1st Cross Street falls under the land classification of Residential Class II Type - I.