Guideline Value for Cross Road

Cross Road guideline value

The current guideline value of Cross Road in Tondaiarpet village, under the Royapuram SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This property falls under the Commercial Class I Type - I land classification.

How the guideline value of Cross Road has changed

The guideline value for Cross Road has seen several revisions over the years. In 2007, the value was set at Rs 800 per sq.ft, which then increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 338%. However, from 2012 to 2017, there was a decrease to Rs 2,345 per sq.ft, a drop of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, representing a 49% increase. The latest revision in 2024 has set the guideline value at Rs 3,800 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for Cross Road in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 375%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Cross Road's 2024 figure above this median.

• C.S.I Church Lane: Rs 1,300 per sq.ft (2024)
• Connection Road in Nethaji Nagar 3rd St to 5th Street: Rs 1,300 per sq.ft (2024)
• Connection Road in Nethaji Nagar 1st to 2nd Street: Rs 1,300 per sq.ft (2024)
• Connection Road in between Nehru Nagar to Nethaji Nagar: Rs 1,300 per sq.ft (2024)
• Company Chathiram Street: Rs 1,300 per sq.ft (2024)
• Cokran Basin 4th Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Cross Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty, charged at 7%, would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Cross Road?

The Sub Registrar Office that covers Cross Road is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish a fair price for both parties involved. It is essential for buyers to be aware of the guideline value to avoid underreporting the sale price, which could lead to penalties or legal issues during registration.

Frequently asked questions

What is the current guideline value for Cross Road?

The current guideline value for Cross Road is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 375% over the years.

What are the stamp duty and registration fees for property in Cross Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,00,000. The stamp duty is Rs 2,66,000, and the registration fee is Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office covers Cross Road?

The Royapuram Sub Registrar Office covers Cross Road, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Cross Road?

Cross Road falls under the Commercial Class I Type - I land classification, indicating its suitability for commercial activities.