Guideline Value for Cross Street

Cross Street guideline value

The current guideline value of Cross Street in Maakaanyam village is Rs 110 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Cross Street has changed

The guideline value for Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 100 per sq.ft. In 2017, this value decreased to Rs 67 per sq.ft, marking a decline of 33%. However, the value rebounded in 2023 to Rs 100 per sq.ft, and then increased to Rs 110 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

Between the 2017 and 2023 revisions, the guideline value saw a significant increase of 49%. Overall, from 2012 to 2024, the value has increased by 10%. It is important to note that there are no recorded figures for Cross Street in the revisions of 2002, 2003, and 2007.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 600 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, indicating that Cross Street's current value of Rs 110 per sq.ft is below this median.

• Crystal Park: Rs 500 per sq.ft (2024)
• Colony Bajanai Koil Street: Rs 100 per sq.ft (2024)
• Dr.Chandra Nagar: Rs 250 per sq.ft (2024)
• Balaji Nagar: Rs 450 per sq.ft (2024)
• Ganesh Nagar: Rs 500 per sq.ft (2024)
• Bajanai Koil Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 110 per sq.ft, the guideline value would be Rs 1,10,000. The stamp duty at 7% would amount to Rs 7,700, while the registration fee at 2% would be Rs 2,200, bringing the total to Rs 9,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cross Street?

The Sub Registrar Office that covers Cross Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Maakaanyam. It is used to determine the stamp duty and registration fees that buyers must pay, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value is essential for both parties, as it provides a reference point for the transaction. It is important to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Cross Street?

The current guideline value of Cross Street is Rs 110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 110 per sq.ft in 2024.

What is the land classification for Cross Street?

Cross Street is classified as Residential Class III Type - I, which indicates its designation for residential purposes.

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

For a 1,000 sq.ft plot valued at Rs 110 per sq.ft, the total guideline value would be Rs 1,10,000, with a stamp duty of Rs 7,700 and a registration fee of Rs 2,200, totaling Rs 9,900.

Which office handles property registrations for Cross Street?

The property registrations for Cross Street are handled by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.