Guideline Value for TRUSTPAKKAM NORTH STREET

Trustpakkam North Street guideline value

The current guideline value of Trustpakkam North Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Trustpakkam North Street has changed

The guideline value of Trustpakkam North Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,897 per sq.ft. This increased to Rs 2,107 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose to Rs 2,365 per sq.ft in 2007, which was a 12% increase. The next revision in 2012 saw a significant jump to Rs 7,000 per sq.ft, reflecting a 196% increase. However, in 2017, the value dropped to Rs 4,690 per sq.ft, a decrease of 33%. The value then rose again to Rs 7,000 per sq.ft in 2023, and finally to Rs 7,700 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 306%. There are no figures available for revisions in years other than those listed.

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 guideline value for these streets is Rs 8,800 per sq.ft, indicating that Trustpakkam North Street's 2024 figure is below this median.

• Trustpakkam: Rs 7,700 per sq.ft (2024)
• Trustpakkam South Street: Rs 7,700 per sq.ft (2024)
• Trust Cross Link 4th Street: Rs 11,500 per sq.ft (2024)
• Trust Cross Link 3rd Street: Rs 11,500 per sq.ft (2024)
• Trust Cross Link 2nd 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 Trustpakkam North Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, resulting in a total of Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Trustpakkam North Street?

The Sub Registrar Office that covers Trustpakkam North 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

The guideline value is a crucial factor in the registration process for property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Trustpakkam North Street?

The current guideline value of Trustpakkam North Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 1,897 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 306% over the years.

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, which is higher than the current value of Trustpakkam North Street.

What are the stamp duty and registration fees for properties in Trustpakkam North Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 77,00,000, the total fees would amount to Rs 6,93,000.

Where is the Sub Registrar Office for Trustpakkam North Street located?

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