Guideline Value for TRUST CROSS 2ND STREET

Trust Cross 2nd Street guideline value

The current guideline value of Trust Cross 2nd Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street 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 Cross 2nd Street has changed

Over the years, the guideline value of Trust Cross 2nd Street has seen significant changes. In 2002, the guideline value was Rs 1,168 per sq.ft. This increased to Rs 1,298 per sq.ft in 2003, marking an 11% rise. The value then increased to Rs 1,750 per sq.ft in 2007, representing a 35% change. A substantial increase occurred between 2007 and 2012, where the value surged to Rs 10,500 per sq.ft, reflecting a 500% increase. However, from 2012 to 2017, the value dropped to Rs 7,035 per sq.ft, showing a decrease of 33%. The value then rose to Rs 10,500 per sq.ft in 2023, which was a 49% increase. Finally, the current revision in 2024 set the guideline value at Rs 11,500 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in the register for this street. 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, with guideline values in 2024 ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, making the current value of Trust Cross 2nd Street above this median.

• Trust Cross 1st Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 3rd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 14th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 4th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 13th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 5th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust Cross 2nd 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, bringing the total to Rs 10,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Trust Cross 2nd Street?

The Sub Registrar Office that covers Trust Cross 2nd 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 in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected during registration.

Understanding the guideline value is essential for both buyers and sellers, as it helps in calculating the overall costs involved in property transactions. It is advisable to consult the latest figures and regulations to ensure compliance with the registration requirements in Mylapore.

Frequently asked questions

What is the current guideline value of Trust Cross 2nd Street?

The current guideline value of Trust Cross 2nd 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 2nd Street?

The land classification for Trust Cross 2nd Street is Residential Class II Type - III.

What is the stamp duty for property in Trust Cross 2nd Street?

The stamp duty for property in Trust Cross 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Trust Cross 2nd Street located?

The Sub Registrar Office for Trust Cross 2nd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.