Guideline Value for TRUST 1ST MAIN ROAD

Trust 1st Main Road guideline value

The current guideline value of Trust 1st Main Road is Rs 11,500 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - III.

How the guideline value of Trust 1st Main Road has changed

The guideline value for Trust 1st Main Road has seen several revisions over the years. Starting from the 2002 revision, the rate was Rs 1,220 per sq.ft. This increased to Rs 1,355 per sq.ft in 2003, marking an 11% rise. However, it saw a significant jump to Rs 10,500 per sq.ft in 2012, which was a 675% increase. The 2017 revision brought the value down to Rs 7,035 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the value at Rs 11,500 per sq.ft, reflecting a 63% increase from 2017.

It is important to note that there are no figures available for the years 2007 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 843%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median of Rs 8,800 per sq.ft. Trust 1st Main Road's 2024 figure is above this median.

• Trust 2nd Main Road: Rs 11,500 per sq.ft (2024)
• Trust Cross 10th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 11th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 12th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 13th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 14th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust 1st Main Road

For a 1,000 sq.ft plot at the current rate of Rs 11,500 per sq.ft, the guideline value amounts to Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your specific fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Trust 1st Main Road?

The Sub Registrar Office that covers Trust 1st Main Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Trust 1st Main Road?

The current guideline value of Trust 1st Main Road is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,220 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, showing an overall increase of 843% over this period.

What is the land classification for Trust 1st Main Road?

Trust 1st Main Road is classified as Residential Class II Type - III under the Mylapore SRO.

What are the stamp duty and registration fees for property in Trust 1st Main Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 10,35,000, based on the applicable rates.

Which office handles registrations for Trust 1st Main Road?

The Mylapore Sub Registrar Office handles registrations for Trust 1st Main Road, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.