Guideline Value for Cross Street

Cross Street guideline value

The current guideline value of Cross Street in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Cross Street has changed

The guideline value for Cross Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the following revision in 2023 saw a significant increase to Rs 1,500 per sq.ft, and then it rose again to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. The most substantial rise occurred between 2017 and 2023, with a notable increase of 49% during this period.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the 2024 figure for Cross Street. Below are other streets in Chitlapakkam with their respective guideline values:

• C.V. Rama Street: Rs 1,650 per sq.ft (2024)
• Collector Garden St: Rs 2,750 per sq.ft (2024)
• Chotta John Street: Rs 1,100 per sq.ft (2024)
• Cholamannan Street: Rs 1,650 per sq.ft (2024)
• Chokkanathar Street: Rs 2,750 per sq.ft (2024)
• Chitlapakkam Ist Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration fee would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cross Street?

The Sub Registrar Office that covers Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must refer to the guideline value to ascertain the applicable fees. The guideline value can influence negotiations, as it reflects the official valuation of the property in the area.

Frequently asked questions

What is the current guideline value for Cross Street?

The current guideline value for Cross Street in Chitlapakkam is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Cross Street has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Cross Street?

Cross Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are some other streets in Chitlapakkam with guideline values?

Other streets in Chitlapakkam include C.V. Rama Street and Cholamannan Street, both valued at Rs 1,650 per sq.ft in 2024, among others with varying rates.

Where can I find the Sub Registrar Office for Cross Street?

The Sub Registrar Office covering Cross Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.