Guideline Value for TRUSTPAKKAM

Trustpakkam guideline value

The current guideline value of Trustpakkam is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Trustpakkam has changed

The guideline value of Trustpakkam has seen several revisions over the years. In 2002, the value was Rs 1,897 per sq.ft, which increased to Rs 2,107 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose significantly to Rs 2,365 per sq.ft, an increase of 12%. The next revision in 2012 saw the value remain at Rs 7,000 per sq.ft, reflecting a notable increase of 196% from the previous figure. However, this was followed by a decrease of 33% in 2017, bringing the value down to Rs 4,690 per sq.ft.

The most recent revisions show a substantial increase in value. From 2017 to 2023, the guideline value jumped to Rs 7,000 per sq.ft, an increase of 49%. The latest revision in 2024 has set the value at Rs 7,700 per sq.ft, reflecting a 10% increase from the previous year.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value 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's 2024 figure below this median.

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

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, and the registration fee at 2% would be Rs 1,54,000, totaling 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Trustpakkam?

The Sub Registrar Office that covers Trustpakkam 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 plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the authorities.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and consistent across different properties within the region.

Frequently asked questions

What is the current guideline value of Trustpakkam?

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

How has the guideline value of Trustpakkam changed over the years?

The guideline value has changed significantly 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 land classification of Trustpakkam?

Trustpakkam is classified as Residential Class IV Type - II under the Mylapore SRO.

Where can I find the Sub Registrar Office for Trustpakkam?

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

How are stamp duty and registration fees calculated in Trustpakkam?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 77,00,000, the total stamp duty and registration fees would amount to Rs 6,93,000.