Guideline Value for TRUSTPAKKAM SOUTH STREET

Trustpakkam South Street guideline value

The current guideline value of Trustpakkam South Street is Rs 7,700 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 IV Type - II.

How the guideline value of Trustpakkam South Street has changed

The guideline value for Trustpakkam South Street has seen several revisions over the years. Starting from Rs 1,897 per sq.ft in 2002, it increased to Rs 2,107 per sq.ft in 2003, marking an 11% rise. The value further climbed to Rs 2,365 per sq.ft in 2007, which is a 12% increase from the previous revision. The 2012 revision maintained the value at Rs 7,000 per sq.ft, showing no change from the 2012 figure. In 2023, the guideline value remained unchanged at Rs 7,000 per sq.ft, before rising to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 306%. It is important to note that there is no figure available for Trustpakkam South Street in the 2017 revision.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values 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 Trustpakkam South Street's 2024 figure below this median.

• Trustpakkam North Street: Rs 7,700 per sq.ft (2024)
• Trustpakkam: 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 South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Trustpakkam South Street?

The Sub Registrar Office that covers Trustpakkam South 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 for property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this valuation.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Trustpakkam South Street?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,897 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, showing an overall increase of 306% over this period.

What is the stamp duty for property in Trustpakkam South Street?

The stamp duty for property in Trustpakkam South Street is 7% of the guideline value or the sale price, whichever is higher.

What are the registration fees for properties in this area?

The registration fee for properties in Trustpakkam South Street is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Trustpakkam South Street?

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