Guideline Value for TRUST CROSS LINK 1ST STREET

Trust Cross Link 1st Street guideline value

The current guideline value of Trust Cross Link 1st 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 Link 1st Street has changed

The guideline value for Trust Cross Link 1st Street has undergone changes over the years. The 2012 revision set the value at Rs 10,500 per sq.ft. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023. The most recent revision in 2024 increased the value to Rs 11,500 per sq.ft, marking a change of +10% from the 2012 figure.

In summary, the guideline value increased from Rs 10,500 per sq.ft in 2012 to Rs 11,500 per sq.ft in 2024. This indicates a significant adjustment in property valuation within this period.

Guideline values in Mylapore

Mylapore village features a range of guideline values across 883 streets under the Mylapore SRO. The 2024 figures for these streets range from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Trust Cross Link 1st Street's current guideline value is above this median.

• Trust Cross 9th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross Link 2nd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 8th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross Link 3rd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross 7th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross Link 4th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust Cross Link 1st 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 or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Trust Cross Link 1st Street?

The Sub Registrar Office that covers Trust Cross Link 1st 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 further assistance.

How the guideline value is used when you buy or sell in Mylapore

The guideline value is a crucial factor when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees during the property registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties, which must be paid at the time of registration. This ensures that the transaction is recorded accurately and that the government receives the necessary revenue from property transactions.

Frequently asked questions

What is the current guideline value of Trust Cross Link 1st Street?

The current guideline value of Trust Cross Link 1st 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 changed from Rs 10,500 per sq.ft in 2012 to Rs 11,500 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the years 2003, 2007, 2017, and 2023.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000. This is based on the current guideline value.

Which Sub Registrar Office should I go to for transactions in Trust Cross Link 1st Street?

The Mylapore Sub Registrar Office is responsible for transactions in Trust Cross Link 1st Street. It is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the property is registered accurately and that all legal obligations are met.