Guideline Value for Crystal Park

Crystal Park guideline value

The current guideline value of Crystal Park in Maakaanyam village, under the Sriperumpudur SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Crystal Park has changed

The guideline value for Crystal Park has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 500 per sq.ft. In the 2017 revision, the value was Rs 335 per sq.ft, reflecting a decrease from the 2012 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%, but the overall change from 2012 to 2024 shows no increase, with the current rate still at Rs 500 per sq.ft. Thus, the value has stabilized at this rate since 2012, despite fluctuations in earlier years.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 600 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Crystal Park's 2024 figure above that median.

• Cross Street: Rs 110 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 Crystal Park

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. 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 details.

Which Sub Registrar Office covers Crystal Park?

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

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

The guideline value plays a crucial role in property transactions in Maakaanyam, as it serves as a benchmark for calculating stamp duty and registration fees. When buying or selling property, the guideline value is used to determine the applicable taxes, ensuring that both parties are aware of the financial obligations involved in the transaction.

During registration, the guideline value is compared to the sale price, and the higher of the two is used for calculating the stamp duty. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Crystal Park?

The current guideline value of Crystal Park is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a notable increase of 49% from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023. There have been fluctuations in earlier years, but the current value has stabilized.

What are the other streets in Maakaanyam and their guideline values?

Other streets in Maakaanyam have varying guideline values ranging from Rs 100 to Rs 600 per sq.ft. For example, Cross Street is valued at Rs 110 per sq.ft, while Ganesh Nagar is also at Rs 500 per sq.ft.

How is stamp duty calculated for properties in Crystal Park?

Stamp duty for properties in Crystal Park is calculated based on the higher of the guideline value or the sale price. For instance, for a 1,000 sq.ft plot valued at Rs 500 per sq.ft, the stamp duty would amount to Rs 35,000.

Where can I find the Sub Registrar Office for Crystal Park?

The Sub Registrar Office for Crystal Park is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the relevant links.