Guideline Value for TELEPHONE NAGAR 7TH CROSS STREET

Telephone Nagar 7th Cross Street guideline value

The current guideline value of Telephone Nagar 7th 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 it falls under the Residential Special Type - IV land classification.

How the guideline value of Telephone Nagar 7th Cross Street has changed

The guideline value for Telephone Nagar 7th Cross Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 137 per sq.ft. This increased to Rs 155 per sq.ft in 2003, marking a change of +13%. The following revisions showed significant increases, with the 2007 revision setting the value at Rs 1,250 per sq.ft, a rise of +706%. In 2012, the value was revised to Rs 5,000 per sq.ft, reflecting a decrease of -33% from the previous revision. The 2017 revision brought it back to Rs 3,350 per sq.ft, an increase of +49%. 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, which is a change of +10%.

There are no figures available for the revisions of this street in the years not mentioned. 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, with guideline values 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 7th Cross Street's 2024 value above this median.

• Telephone Nagar 6th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 8th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 5th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 9th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar Main Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Nagar 7th 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 fees together 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Telephone Nagar 7th Cross Street?

The Sub Registrar Office that covers Telephone Nagar 7th 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 registering property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is a percentage of the guideline value or the sale price, whichever is higher. This ensures that the correct fees are applied based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Telephone Nagar 7th Cross Street?

The current guideline value of Telephone Nagar 7th 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, reflecting an overall increase of +3915% over the years.

What is the land classification for Telephone Nagar 7th Cross Street?

Telephone Nagar 7th Cross Street falls under the Residential Special Type - IV land classification.

Where can I find the registration office for this area?

The Neelankarai Sub Registrar Office covers Telephone Nagar 7th 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 Telephone Nagar 7th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 4,95,000.