Guideline Value for TELEPHONE NAGAR 12TH CROSS STREET

Telephone Nagar 12th Cross Street guideline value

The current guideline value of Telephone Nagar 12th Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Telephone Nagar 12th Cross Street has changed

The guideline value for Telephone Nagar 12th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 137 per sq.ft. This increased to Rs 155 per sq.ft in 2003, marking a 13% rise. The value then surged significantly to Rs 1,250 per sq.ft in 2007, reflecting a 706% increase. In 2012, the value dropped to Rs 5,000 per sq.ft, a decrease of 300%. The 2017 revision saw the value rise again to Rs 3,350 per sq.ft, which was a 49% increase. The most recent revision in 2023 set the value at Rs 5,000 per sq.ft, before the current figure of Rs 5,500 per sq.ft was established in 2024, showing a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years not listed above. The overall change from 2002 to 2024 is an increase of 3915%.

Guideline values in Perungudi

In Perungudi village, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, and the guideline value for Telephone Nagar 12th Cross Street is above this median.

• Telephone Nagar 11th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 13th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 10th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 14th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 15th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 16th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Nagar 12th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Telephone Nagar 12th Cross Street?

The Sub Registrar Office that covers Telephone Nagar 12th Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Telephone Nagar 12th Cross Street?

The current guideline value of Telephone Nagar 12th Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 137 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 3915% over this period.

What is the land classification for Telephone Nagar 12th Cross Street?

Telephone Nagar 12th Cross Street is classified as Residential Special Type - IV.

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

The Sub Registrar Office for Telephone Nagar 12th Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Telephone Nagar 12th Cross Street?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.