Guideline Value for TRUST CROSS 14TH STREET

Trust Cross 14th Street guideline value

The current guideline value of Trust Cross 14th 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 14th Street has changed

The guideline value for Trust Cross 14th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 783 per sq.ft. This increased to Rs 870 per sq.ft in 2003, marking an 11% rise. The value continued to increase significantly, reaching Rs 1,540 per sq.ft in 2007, which was a substantial 77% increase from the previous year. However, it then dropped to Rs 10,500 per sq.ft in 2012, reflecting a decrease of 33% from 2017.

In the subsequent revisions, the value rose again to Rs 7,035 per sq.ft in 2017, a 49% increase from the 2012 figure. The most recent revision in 2023 set the value at Rs 10,500 per sq.ft, before the current rate of Rs 11,500 per sq.ft was established in 2024, reflecting a 10% increase from the previous year. There are no figures available for the years not listed in the register for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, and Trust Cross 14th Street's current value is above this median.

• Trust Cross 13th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 1st Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 12th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 2nd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 11th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 3rd Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust Cross 14th Street

For a 1,000 sq.ft plot at the current rate of Rs 11,500 per sq.ft, the guideline value is Rs 1,15,00,000. The stamp duty at 7% amounts to Rs 8,05,000, and the registration fee at 2% is Rs 2,30,000, totaling Rs 10,35,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Trust Cross 14th Street?

The Sub Registrar Office that covers Trust Cross 14th 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the duty is charged based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Trust Cross 14th Street?

The current guideline value of Trust Cross 14th 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 increased from Rs 783 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 1369% over the years.

What is the land classification for Trust Cross 14th Street?

Trust Cross 14th Street is classified as Residential Class II Type - III.

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

The Sub Registrar Office for Trust Cross 14th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,15,00,000, the total fees would be Rs 10,35,000.