Guideline Value for Old Trunk Road

Old Trunk Road guideline value

The current guideline value of Old Trunk Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This road is located in Cantonment Pallavaram village and falls under the Pallavaram SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Old Trunk Road has changed

The guideline value for Old Trunk Road has seen significant changes over the years. In 2003, the value was Rs 1,720 per sq.ft, which increased to Rs 1,600 per sq.ft in 2007. A notable rise occurred in 2012, where the value jumped to Rs 10,000 per sq.ft, marking an increase of 525%. However, it decreased to Rs 6,700 per sq.ft in 2017, reflecting a drop of 33%. The value then rose again to Rs 10,000 per sq.ft in 2023, before reaching the current figure of Rs 11,000 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 540%. The register does not have a figure for Old Trunk Road for the year 2002.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a range of guideline values for its streets, with 81 streets under the Pallavaram SRO carrying a 2024 figure ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value is Rs 2,700 per sq.ft, indicating that Old Trunk Road's 2024 figure is significantly above this median.

• Officers Lane: Rs 3,850 per sq.ft (2024)
• Pachyappa Naicken Street: Rs 3,300 per sq.ft (2024)
• P.A. Jaganathan Lane: Rs 3,850 per sq.ft (2024)
• P.A. Jaganathan Street: Rs 3,850 per sq.ft (2024)
• Nehru Street: Rs 2,200 per sq.ft (2024)
• Pandian Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Old Trunk Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total charges together to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Old Trunk Road?

The Sub Registrar Office that covers Old Trunk Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Cantonment Pallavaram

The guideline value is a crucial factor in the registration process of property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction reflects the prevailing market conditions.

When buying or selling property, the guideline value influences the stamp duty and registration fees applicable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Old Trunk Road?

The current guideline value of Old Trunk Road is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,720 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 540% over this period.

What is the land classification for Old Trunk Road?

Old Trunk Road is classified as Commercial Class I Type - I, which indicates its use for commercial purposes.

Where can I find the Sub Registrar Office for Old Trunk Road?

The Sub Registrar Office for Old Trunk Road is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties on Old Trunk Road?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For instance, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 7,70,000.