Guideline Value for TELEPHONE NAGAR 1ST CROSS STREET

Telephone Nagar 1st Cross Street guideline value

The current guideline value of Telephone Nagar 1st Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Telephone Nagar 1st Cross Street has changed

The guideline value for Telephone Nagar 1st Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 137 per sq.ft. This increased significantly to Rs 155 per sq.ft in 2003, marking a change of +13%. The value then surged to Rs 1,250 per sq.ft in 2007, which was a remarkable increase of +706%. Following this, the 2012 revision set the value at Rs 5,000 per sq.ft, reflecting a substantial increase of +300%. However, in the 2017 revision, the value dropped to Rs 3,350 per sq.ft, showing a decrease of -33%. The guideline value then rose to Rs 5,000 per sq.ft in 2023, which was an increase of +49%, before reaching the current figure of Rs 5,500 per sq.ft in 2024, an increase of +10%.

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. The median value for these streets is Rs 3,300 per sq.ft, placing Telephone Nagar 1st Cross Street's 2024 figure above that median.

• Telephone Nagar 18th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 17th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 16th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Telephone Nagar 1st Cross Street?

The Sub Registrar Office that covers Telephone Nagar 1st 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 value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, buyers must ensure that the sale price is either equal to or higher than the guideline value. This ensures that the transaction is compliant with local regulations and that the appropriate taxes are paid based on the higher of the two values.

Frequently asked questions

What is the current guideline value of Telephone Nagar 1st Cross Street?

The current guideline value of Telephone Nagar 1st 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 revisions over the years.

What is the land classification for Telephone Nagar 1st Cross Street?

The land classification for Telephone Nagar 1st Cross Street is Residential Special Type - IV.

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

The Sub Registrar Office covering Telephone Nagar 1st 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.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 4,95,000 in fees based on the current guideline value.