Guideline Value for TELEPHONE NAGAR 8TH CROSS STREET

Telephone Nagar 8th Cross Street guideline value

The current guideline value of Telephone Nagar 8th 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 8th Cross Street has changed

The guideline value for Telephone Nagar 8th Cross Street has undergone 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 13% rise. The value then saw a dramatic increase to Rs 1,250 per sq.ft in 2007, which is a 706% increase. Following this, the 2012 revision set the value at Rs 5,000 per sq.ft, reflecting a 300% increase from the previous figure. However, the value dropped to Rs 3,350 per sq.ft in 2017, showing a decrease of 33%.

In the 2023 revision, the guideline value rose to Rs 5,000 per sq.ft, and then increased to Rs 5,500 per sq.ft in 2024, which is a 10% increase. 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 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 8th Cross Street above that median.

• Telephone Nagar 7th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 9th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 6th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 5th 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 8th 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 would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost to 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Telephone Nagar 8th Cross Street?

The Sub Registrar Office covering Telephone Nagar 8th 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 further assistance.

How the guideline value is used when you buy or sell in Perungudi

The guideline value plays a crucial role in property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the stamp duty and registration fees are calculated based on the higher of the sale price or the guideline value.

This ensures that the government receives the appropriate revenue from property transactions. Buyers should be aware of the current guideline value to understand the potential costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Telephone Nagar 8th Cross Street?

The current guideline value of Telephone Nagar 8th 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 seen significant changes, increasing from Rs 137 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 3915%.

What is the land classification of Telephone Nagar 8th Cross Street?

Telephone Nagar 8th Cross Street is classified as Residential Special Type - IV.

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

For a property valued at 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 8th Cross Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.