Guideline Value for TRUST CROSS 4TH STREET

Trust Cross 4th Street guideline value

The current guideline value of Trust Cross 4th 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 4th Street has changed

The guideline value for Trust Cross 4th Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,661 per sq.ft. This figure increased to Rs 1,845 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,950 per sq.ft in 2007, which was a 6% increase. A substantial jump occurred in 2012 when the value remained at Rs 10,500 per sq.ft, reflecting a remarkable 438% increase from the previous figure. The guideline value did not change from 2012 to 2023, remaining at Rs 10,500 per sq.ft. In 2024, the value increased by 10% to reach Rs 11,500 per sq.ft.

It is important to note that there is no figure available for the year 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 592%.

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 value for these streets is Rs 8,800 per sq.ft, placing Trust Cross 4th Street's 2024 figure above that median.

• Trust Cross 1st Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 2nd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 3rd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 4th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 5th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 6th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 7th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust Cross 4th 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 fees 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 4th Street?

The Sub Registrar Office that covers Trust Cross 4th 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 that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Trust Cross 4th Street?

The current guideline value for Trust Cross 4th 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 1,661 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 592% over this period.

What is the stamp duty rate for property in Trust Cross 4th Street?

The stamp duty rate for property transactions in Trust Cross 4th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Trust Cross 4th Street located?

The Sub Registrar Office for Trust Cross 4th Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, with Trust Cross 4th Street's value being above this median.