Guideline Value for TELEPHONE NAGAR 3RD CROSS STREET

Telephone Nagar 3rd Cross Street guideline value

The current guideline value of Telephone Nagar 3rd 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 3rd Cross Street has changed

The guideline value for Telephone Nagar 3rd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 137 per sq.ft. This increased to Rs 155 per sq.ft in 2003, marking a growth of 13%. The value saw a significant rise to Rs 1,250 per sq.ft in 2007, an increase of 706%. The 2012 revision recorded a value of Rs 5,000 per sq.ft, reflecting a decrease of 300% from the previous revision. In 2017, the value rose to Rs 3,350 per sq.ft, an increase of 49% from 2012. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 5,500 per sq.ft, a rise of 10%.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 3915%.

Guideline values in Perungudi

In Perungudi village, 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 for Telephone Nagar 3rd Cross Street is above this median.

• Telephone Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 5th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 18th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 6th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Nagar 3rd 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 is charged at 7%, which totals Rs 3,85,000, and the registration fee is 2%, amounting to Rs 1,10,000. Together, the total fees would be Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Telephone Nagar 3rd Cross Street?

The Sub Registrar Office that covers Telephone Nagar 3rd 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 the registration process 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 transaction is recorded accurately.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Telephone Nagar 3rd Cross Street?

The current guideline value of Telephone Nagar 3rd 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 an overall increase of 3915%.

What is the land classification for Telephone Nagar 3rd Cross Street?

Telephone Nagar 3rd Cross Street is classified as Residential Special Type - IV.

Where can I find the registration office for this area?

The Neelankarai Sub Registrar Office covers Telephone Nagar 3rd Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.