Guideline Value for TELEPHONE NAGAR MAIN ROAD

Telephone Nagar Main Road guideline value

The current guideline value of Telephone Nagar Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Telephone Nagar Main Road has changed

The guideline value for Telephone Nagar Main Road has seen significant changes over the years. In 2002, the value was Rs 137 per sq.ft. This increased to Rs 155 per sq.ft in 2003, marking a change of +13%. The value then surged to Rs 1,250 per sq.ft in 2007, reflecting a substantial increase of +706%. In 2012, the value was Rs 5,000 per sq.ft, which was a decrease of -33% from the previous revision. The 2017 revision set the value at Rs 3,350 per sq.ft, showing an increase of +49% from 2012. The value rose to Rs 5,000 per sq.ft in 2023, and most recently, it has reached Rs 5,500 per sq.ft in the 2024 revision, representing a +10% increase.

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. The median value for these streets is Rs 3,300 per sq.ft, making the guideline value of Telephone Nagar Main Road above that median.

• Telephone Nagar 9th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 8th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 7th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 6th Cross Street: 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 Main Road

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 to Rs 4,95,000. Please note that the 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 further calculations.

Which Sub Registrar Office covers Telephone Nagar Main Road?

The Sub Registrar Office that covers Telephone Nagar Main Road 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 during property registration in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction. It is essential for both parties to understand that the duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Telephone Nagar Main Road?

The current guideline value of Telephone Nagar Main Road 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, showing an overall increase of +3915%.

What is the land classification for Telephone Nagar Main Road?

Telephone Nagar Main Road is classified as Residential Special Type - IV.

Where is the Neelankarai Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Telephone Nagar Main Road?

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 rate, the total guideline value would be Rs 55,00,000, and the stamp duty would be Rs 3,85,000.