Guideline Value for TRUST CROSS 12TH STREET

Trust Cross 12th Street guideline value

The current guideline value for Trust Cross 12th Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - III.

How the guideline value of Trust Cross 12th Street has changed

The guideline value for Trust Cross 12th Street has seen significant changes over the years. In 2002, the value was Rs 783 per sq.ft, which increased to Rs 870 per sq.ft in 2003. The value continued to rise, reaching Rs 1,540 per sq.ft in 2007, before jumping to Rs 10,500 per sq.ft in 2012. However, it decreased to Rs 7,035 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 10,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 11,500 per sq.ft. The register has no figure for this street for the years not listed.

Between the revisions, the changes were notable. From 2002 to 2003, there was an increase of 11%. The value surged by 77% from 2003 to 2007, followed by a remarkable increase of 582% from 2007 to 2012. After the decline of 33% from 2012 to 2017, the value rose by 49% from 2017 to 2023. The most recent increase from 2023 to 2024 was 10%. Overall, from 2002 to 2024, the guideline value has increased by 1369%.

Guideline values in Mylapore

In Mylapore village, 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 value of Rs 8,800 per sq.ft. Trust Cross 12th Street's 2024 guideline value is above this median.

• Trust Cross 11th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 13th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 10th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 14th Street: Rs 11,500 per sq.ft (2024)
• Trust 2nd Main Road: Rs 11,500 per sq.ft (2024)
• Trust Cross 1st Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust Cross 12th Street

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, and the registration fee at 2% would be Rs 2,30,000, making the total cost Rs 10,35,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Trust Cross 12th Street?

The Sub Registrar Office covering Trust Cross 12th Street 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 during the registration of property in Mylapore. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable stamp duty. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring compliance with the legal requirements set by the authorities.

Frequently asked questions

What is the current guideline value of Trust Cross 12th Street?

The current guideline value of Trust Cross 12th Street 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, starting from Rs 783 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, marking an overall increase of 1369%.

What is the land classification of Trust Cross 12th Street?

Trust Cross 12th Street is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for Trust Cross 12th Street?

The Sub Registrar Office for Trust Cross 12th Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Mylapore?

Stamp duty for properties in Mylapore is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,15,00,000 would incur a stamp duty of Rs 8,05,000 at a rate of 7%.