Guideline Value for TELEPHONE NAGAR 6TH CROSS STREET

Telephone Nagar 6th Cross Street guideline value

The current guideline value of Telephone Nagar 6th 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 6th Cross Street has changed

The guideline value for Telephone Nagar 6th Cross Street has experienced several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 137 per sq.ft. This figure increased to Rs 155 per sq.ft in 2003, marking a change of +13%. The value then saw a significant rise to Rs 1,250 per sq.ft in 2007, which is a change of +706%. Following this, the value increased to Rs 5,000 per sq.ft in 2012, reflecting a substantial change of +300%. However, between 2012 and 2017, the value decreased to Rs 3,350 per sq.ft, resulting in a change of -33%.

From 2017 to 2023, the guideline value rose to Rs 5,000 per sq.ft, which is a change of +49%. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 5,500 per sq.ft, representing an increase of +10% from the previous year. There are no figures available for the revisions in years not listed 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 6th Cross Street is above this median.

• Telephone Nagar 5th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 7th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 8th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 9th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Nagar 6th 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, charged at 7%, would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total fees would amount to Rs 4,95,000. It is important to note that 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 6th Cross Street?

The Sub Registrar Office that covers Telephone Nagar 6th 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

When buying or selling property in Perungudi, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the total costs involved in a property transaction. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Telephone Nagar 6th Cross Street?

The current guideline value of Telephone Nagar 6th 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 from Rs 137 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, with various increases and one decrease recorded in the intervening years.

What is the land classification for Telephone Nagar 6th Cross Street?

Telephone Nagar 6th Cross Street is classified as Residential Special Type - IV.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 55,00,000, the total fees would be Rs 4,95,000.

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

The Neelankarai Sub Registrar Office covers Telephone Nagar 6th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.