Guideline Value for TELEPHONE NAGAR 15TH CROSS STREET

Telephone Nagar 15th Cross Street guideline value

The current guideline value of Telephone Nagar 15th 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 15th Cross Street has changed

The guideline value for Telephone Nagar 15th Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 137 per sq.ft, which increased significantly to Rs 155 per sq.ft in 2003. The value continued to rise sharply, reaching Rs 1,250 per sq.ft in 2007, and then it jumped to Rs 5,000 per sq.ft in 2012. However, there was a decline to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023, and finally to the current value of Rs 5,500 per sq.ft in 2024. Notably, there are no figures available for the years between 2002 and 2007, and also between 2017 and 2023.

Between revisions, the changes were substantial. From 2002 to 2003, the increase was +13%. The rise from 2003 to 2007 was remarkable at +706%. The value then saw a +300% increase from 2007 to 2012. However, it experienced a decline of -33% from 2012 to 2017. The value then rose by +49% from 2017 to 2023, and finally, there was a +10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +3915%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Telephone Nagar 15th Cross Street's value above the median.

• Telephone Nagar 14th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 16th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 13th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 17th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 12th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 18th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Nagar 15th 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, making the total cost for these fees Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Telephone Nagar 15th Cross Street?

The Sub Registrar Office that covers Telephone Nagar 15th 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 is a crucial factor in property transactions in Perungudi. It serves as a benchmark for determining the minimum price at which a property can be sold or registered. When buying or selling property, it is essential to consider the guideline value as it directly impacts the stamp duty and registration fees payable.

During the registration process, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Telephone Nagar 15th Cross Street?

The current guideline value of Telephone Nagar 15th 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, showing an overall increase of +3915% over the years.

What is the registration fee for property in Telephone Nagar 15th Cross Street?

The registration fee for property in Telephone Nagar 15th Cross Street is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Telephone Nagar 15th Cross Street located?

The Sub Registrar Office for Telephone Nagar 15th Cross Street is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum price for property transactions and impacts the stamp duty and registration fees payable during the registration process.