Guideline Value for TRUST CROSS 6TH STREET

Trust Cross 6th Street guideline value

The current guideline value of Trust Cross 6th 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 6th Street has changed

The guideline value for Trust Cross 6th Street has seen significant changes over the years. In 2002, the guideline value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an increase of 11%. The value then rose dramatically to Rs 1,540 per sq.ft in 2007, reflecting a 59% increase. By 2012, the value reached Rs 10,500 per sq.ft, showing a substantial increase of 582%. However, it dropped to Rs 7,035 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 set the value at Rs 11,500 per sq.ft, which is a significant increase of 63% from 2017.

It is important to note that the register has no figure for Trust Cross 6th Street for the year 2023. Overall, from 2002 to 2024, the guideline value has increased by 1219%, illustrating a long-term upward trend in the valuation of this street.

Guideline values in Mylapore

In Mylapore village, 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, placing Trust Cross 6th Street's 2024 figure above that median.

• Trust Cross 5th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 7th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 4th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 8th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 3rd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 9th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust Cross 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty, charged at 7%, would amount to Rs 8,05,000, while the registration fee at 2% would be Rs 2,30,000. Together, the total cost for these fees would be 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Trust Cross 6th Street?

The Sub Registrar Office that covers Trust Cross 6th 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

When buying or selling property in Mylapore, the guideline value plays a crucial role in determining the registration fees and stamp duty. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives its due revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost of property transactions. Understanding how these values change over time can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Trust Cross 6th Street?

The current guideline value of Trust Cross 6th 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 872 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 1219% over the years.

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 5th Street, Trust Cross 7th Street, Trust Cross 4th Street, Trust Cross 8th Street, Trust Cross 3rd Street, and Trust Cross 9th Street.

Where is the Sub Registrar Office for Trust Cross 6th Street located?

The Sub Registrar Office for Trust Cross 6th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Trust Cross 6th Street, the stamp duty is 7% of the guideline value.