Guideline Value for TELEPHONE NAGAR 16TH CROSS STREET

Telephone Nagar 16th Cross Street guideline value

The current guideline value of Telephone Nagar 16th 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 16th Cross Street has changed

The guideline value for Telephone Nagar 16th Cross Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 137 per sq.ft, which increased to Rs 155 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,250 per sq.ft in 2007, marking an increase of 706%. The value then increased to Rs 5,000 per sq.ft in 2012, which represented a 300% increase from the previous revision. However, it decreased to Rs 3,350 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 5,000 per sq.ft, a 49% increase, and then further increased to Rs 5,500 per sq.ft in the 2024 revision, which is a 10% rise. It is important to note that there are no figures available for the years not mentioned in the register for this street.

Guideline values in Perungudi

In Perungudi, 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, with a median value of Rs 3,300 per sq.ft. The guideline value of Telephone Nagar 16th Cross Street is above this median.

• Telephone Nagar 15th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 17th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 14th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 18th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 13th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Nagar 16th 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 would be 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 fees together Rs 4,95,000. It is essential 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 16th Cross Street?

The Sub Registrar Office that covers Telephone Nagar 16th 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 component in the property registration process in Perungudi. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value, as it serves as a reference point for the transaction. This value is essential for calculating the stamp duty and registration fees, which are mandatory for completing the property transfer legally.

Frequently asked questions

What is the current guideline value of Telephone Nagar 16th Cross Street?

The current guideline value of Telephone Nagar 16th 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 various increases and one decrease over the years.

What is the land classification for Telephone Nagar 16th Cross Street?

The land classification for Telephone Nagar 16th Cross Street is Residential Special Type - IV.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office handles the registration for Telephone Nagar 16th Cross Street?

The Neelankarai Sub Registrar Office handles the registration for Telephone Nagar 16th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.