Guideline Value for TRUST CROSS 7TH STREET

Trust Cross 7th Street guideline value

The current guideline value of Trust Cross 7th 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 7th Street has changed

The guideline value for Trust Cross 7th Street has experienced significant changes over the years. In 2002, the 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, a change of 59%. Following that, it saw a substantial increase to Rs 10,500 per sq.ft in 2012, reflecting a rise of 582%. However, from 2012 to 2017, the value decreased to Rs 7,035 per sq.ft, a decline of 33%. The most recent revision in 2024 shows the guideline value at Rs 11,500 per sq.ft, an increase of 63% from the 2017 figure.

The register has no figure for this street for the year 2023. Overall, from 2002 to 2024, the guideline value has increased by 1219%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a guideline value for 2024 ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, making the current value of Trust Cross 7th Street above that median.

• Trust Cross 6th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 8th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 5th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 9th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 4th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross Link 1st Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust Cross 7th 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 at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total cost to Rs 10,35,000. It is important to note that 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 7th Street?

The Sub Registrar Office that covers Trust Cross 7th 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 when registering property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established value of the property.

When buying or selling property, the guideline value helps in setting a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Trust Cross 7th Street?

The current guideline value of Trust Cross 7th 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 seen significant changes, from Rs 872 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, marking an overall increase of 1219% over the years.

What is the land classification for Trust Cross 7th Street?

Trust Cross 7th Street is classified as Residential Class II Type - III under the Mylapore SRO.

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 should I consider when calculating stamp duty and registration fees?

When calculating stamp duty and registration fees, it is important to note that these fees are based on the higher of the guideline value or the sale price. Therefore, understanding the current guideline value is essential for accurate financial planning.