Guideline Value for TELEPHONE NAGAR 2ND CROSS STREET

Telephone Nagar 2nd Cross Street guideline value

The current guideline value of Telephone Nagar 2nd 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, with a land classification of Residential Special Type - IV.

How the guideline value of Telephone Nagar 2nd Cross Street has changed

The guideline value for Telephone Nagar 2nd Cross Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 137 per sq.ft. It increased significantly to Rs 155 per sq.ft in 2003, followed by a substantial rise to Rs 1,250 per sq.ft in 2007. The 2012 revision saw a decrease to Rs 5,000 per sq.ft, which was then followed by a drop to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 5,500 per sq.ft.

In terms of changes, the guideline value increased by 10% from 2023 to 2024. Between 2017 and 2023, the increase was 49%. The value decreased by 33% from 2012 to 2017, while there was a significant increase of 300% from 2007 to 2012. The rise from 2003 to 2007 was 706%, and from 2002 to 2003, it was 13%. Overall, from 2002 to 2024, the guideline value has increased by 3915%. There are no figures available for revisions other than those mentioned.

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 value for these streets is Rs 3,300 per sq.ft, indicating that Telephone Nagar 2nd Cross Street's 2024 figure is above that median.

• Telephone Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 18th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 17th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 5th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Nagar 2nd 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, 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 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 2nd Cross Street?

The Sub Registrar Office that covers Telephone Nagar 2nd 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 when buying or selling property in Perungudi. It is used to determine the stamp duty and registration fees applicable during the property registration process. Buyers should be aware that the guideline value serves as a reference point for the transaction value, ensuring that the fees are calculated accurately.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's value, whether it is sold at a price above or below the guideline value.

Frequently asked questions

What is the current guideline value of Telephone Nagar 2nd Cross Street?

The current guideline value of Telephone Nagar 2nd 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 a total increase of 3915% over the years.

What is the median guideline value for streets in Perungudi?

The median guideline value for streets in Perungudi is Rs 3,300 per sq.ft, with Telephone Nagar 2nd Cross Street's value being above this median.

What are the stamp duty and registration fees for a property in Telephone Nagar 2nd Cross Street?

For a 1,000 sq.ft property, the total guideline value is Rs 55,00,000. The stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Telephone Nagar 2nd Cross Street located?

The Sub Registrar Office for Telephone Nagar 2nd 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.