Guideline Value for TRUST CROSS 1ST STREET

Trust Cross 1st Street guideline value

The current guideline value of Trust Cross 1st Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Trust Cross 1st Street has changed

The guideline value for Trust Cross 1st Street has undergone several revisions over the years. In 2002, the value was Rs 1,168 per sq.ft, which increased to Rs 1,298 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,540 per sq.ft in 2007, reflecting a 19% increase. By 2012, it had significantly increased to Rs 10,500 per sq.ft, showing a remarkable growth of 582%. However, there was a decrease to Rs 7,035 per sq.ft in 2017, which represented a decline of 33%. The value rose again to Rs 10,500 per sq.ft in 2023, and finally reached Rs 11,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the revisions of this street in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by 885%.

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. The median guideline value in this area is Rs 8,800 per sq.ft, which means that the 2024 figure for Trust Cross 1st Street is above this median.

• Trust Cross 14th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 2nd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 13th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 3rd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 12th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 4th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust Cross 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total 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, resulting in a total of Rs 10,35,000. It is important to 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 information.

Which Sub Registrar Office covers Trust Cross 1st Street?

The Sub Registrar Office that covers Trust Cross 1st 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 plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official value set by the government.

When a property transaction occurs, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Trust Cross 1st Street?

The current guideline value for Trust Cross 1st 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 from Rs 1,168 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 885%.

What is the land classification for Trust Cross 1st Street?

The land classification for Trust Cross 1st Street is Residential Class II Type - III.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, crescent Street, Alwarpet, Chennai -600018.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total costs would amount to Rs 10,35,000.