Guideline Value for TELEPHONE NAGAR 18TH CROSS STREET

Telephone Nagar 18th Cross Street guideline value

The current guideline value for Telephone Nagar 18th 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 18th Cross Street has changed

The guideline value for Telephone Nagar 18th Cross Street has undergone several revisions since 2002. The values recorded are as follows: in 2002, the guideline value was Rs 137 per sq.ft, which increased to Rs 155 per sq.ft in 2003. The value saw a significant rise to Rs 1,250 per sq.ft in 2007, followed by a further increase to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The next revision in 2023 saw the value rise to Rs 5,000 per sq.ft, and finally, the current value stands at Rs 5,500 per sq.ft as of 2024.

Between these revisions, there were notable changes. From 2002 to 2003, the increase was +13%. The value surged by +706% from 2003 to 2007. Following this, there was a +300% rise from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. A substantial increase of +49% occurred from 2017 to 2023, and finally, from 2023 to 2024, the guideline value increased by +10%. 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 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, making the guideline value for Telephone Nagar 18th Cross Street above this median.

• Telephone Nagar 17th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 16th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 15th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Nagar 18th 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 charges to 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Telephone Nagar 18th Cross Street?

The Sub Registrar Office that covers Telephone Nagar 18th 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 during the registration of property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value for Telephone Nagar 18th Cross Street?

The current guideline value for Telephone Nagar 18th 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, with various increases and one decrease noted in the revisions.

What is the classification of Telephone Nagar 18th Cross Street?

Telephone Nagar 18th Cross Street is classified as Residential Special Type - IV under the Neelankarai SRO.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the total stamp duty and registration fees would amount to Rs 4,95,000.