Guideline Value for Sterling Road 3rd Cross Street

Sterling Road 3rd Cross Street guideline value

The current guideline value of Sterling Road 3rd Cross Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Sterling Road 3rd Cross Street has changed

The guideline value for Sterling Road 3rd Cross Street has seen several revisions over the years. The earliest recorded revision is from 2007, with a guideline value of Rs 4,200 per sq.ft. This increased significantly to Rs 9,000 per sq.ft in 2012, marking a 114% rise. However, it then dropped to Rs 6,030 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 9,000 per sq.ft in 2023, before reaching the current figure of Rs 9,900 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has risen by 136%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Sterling Road 3rd Cross Street above this median.

• Sterling Road 2nd Cross Street: Rs 9,900 per sq.ft (2024)
• Sterling Road 4rd Cross Street: Rs 9,900 per sq.ft (2024)
• Sterling Road 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Sterling Road: Rs 15,400 per sq.ft (2024)
• Sterling Avenue: Rs 9,900 per sq.ft (2024)
• Subbarao Avenue 1st Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sterling Road 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty, charged at 7%, would amount to Rs 6,93,000, and the registration fee, charged at 2%, would be Rs 1,98,000. Together, the total cost for stamp duty and registration would be Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sterling Road 3rd Cross Street?

The Sub Registrar Office that covers Sterling Road 3rd Cross Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Nungambakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the property is registered at a value that reflects its market position.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Sterling Road 3rd Cross Street?

The current guideline value of Sterling Road 3rd Cross Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,200 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting a total increase of 136% over the years.

What is the land classification for Sterling Road 3rd Cross Street?

The land classification for Sterling Road 3rd Cross Street is Commercial Class I Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Sterling Road 3rd Cross Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties on Sterling Road 3rd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 99,00,000, the stamp duty at 7% would be Rs 6,93,000.