Guideline Value for TRUST 2ND MAIN ROAD

Trust 2nd Main Road guideline value

The current guideline value of Trust 2nd Main Road is Rs 11,500 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Trust 2nd Main Road has changed

The guideline value for Trust 2nd Main Road has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 1,443 per sq.ft. This increased to Rs 1,603 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 1,750 per sq.ft, reflecting a 9% increase. The 2012 revision saw a substantial jump to Rs 10,500 per sq.ft, which is a 500% increase from the previous figure. However, in 2017, the value decreased to Rs 7,035 per sq.ft, a decline of 33%. The most recent revision in 2024 set the value at Rs 11,500 per sq.ft, representing a 63% increase from 2017.

It is important to note that there is no figure available for Trust 2nd Main Road in the 2023 revision. Overall, from 2002 to 2024, the guideline value has increased by 697%.

Guideline values in Mylapore

Mylapore village features a wide range of guideline values across its 883 streets under the Mylapore SRO, with figures ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Trust 2nd Main Road's 2024 figure above this median.

• Trust 1st 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 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, while the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. Note that the 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 Trust 2nd Main Road?

The Sub Registrar Office that covers Trust 2nd 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 is a crucial factor when registering property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Trust 2nd Main Road?

The current guideline value of Trust 2nd 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 significantly from Rs 1,443 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 697%.

What is the land classification for Trust 2nd Main Road?

The land classification for Trust 2nd Main Road is Residential Class II Type - III.

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

The Sub Registrar Office covering Trust 2nd Main Road is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 1,15,00,000, resulting in stamp duty and registration fees totaling Rs 10,35,000.