Guideline Value for TRUST CROSS 3RD STREET

Trust Cross 3rd Street guideline value

The current guideline value of Trust Cross 3rd 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, and is classified as Residential Class II Type - III.

How the guideline value of Trust Cross 3rd Street has changed

The guideline value for Trust Cross 3rd Street has seen significant changes over the years. 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 surged dramatically to Rs 5,352 per sq.ft in 2007, reflecting a 312% increase. Following this, the value was Rs 10,500 per sq.ft in 2012, which represented a 96% increase from the previous revision. However, from 2012 to 2017, the value decreased by 33% to Rs 7,035 per sq.ft. The guideline value increased again to Rs 10,500 per sq.ft in 2023, showing a 49% rise. The most recent revision in 2024 saw the value increase to Rs 11,500 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in the provided data. Overall, from 2002 to 2024, the guideline value has increased by 885%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value range 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 Cross 3rd Street's 2024 figure above that median.

• Trust Cross 2nd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 4th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 1st Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 5th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 14th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 6th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust Cross 3rd 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, charged at 7%, would be Rs 8,05,000, and the registration fee, charged 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 or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Trust Cross 3rd Street?

The Sub Registrar Office that covers Trust Cross 3rd 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 critical factor during the registration of property transactions in Mylapore. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy. It is essential for both buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Trust Cross 3rd Street?

The current guideline value of Trust Cross 3rd 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 undergone several changes, increasing 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 are the other streets in Mylapore with the same guideline value?

Other streets in Mylapore with the same guideline value of Rs 11,500 per sq.ft include Trust Cross 1st Street, Trust Cross 2nd Street, Trust Cross 4th Street, Trust Cross 5th Street, Trust Cross 6th Street, and Trust Cross 14th Street.

Where is the Sub Registrar Office for Trust Cross 3rd Street located?

The Sub Registrar Office for Trust Cross 3rd Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for property in Trust Cross 3rd Street?

Stamp duty for property in Trust Cross 3rd Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 8,05,000.