Guideline Value for TTK Road 1st Cross Street

TTK Road 1st Cross Street guideline value

The current guideline value of TTK Road 1st Cross Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of TTK Road 1st Cross Street has changed

The guideline value register shows that there are no figures for TTK Road 1st Cross Street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 13,000 per sq.ft, which increased to Rs 14,300 per sq.ft in the 2024 revision, marking a rise of 10%.

Prior to the 2023 revision, the register does not provide any figures for the specified years. The current value of Rs 14,300 per sq.ft is the latest revision, reflecting the most up-to-date assessment for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, and TTK Road 1st Cross Street's 2024 figure is above this median.

• TTK Road 1st Street: Rs 14,300 per sq.ft (2024)
• T.T.K.Lane: Rs 14,300 per sq.ft (2024)
• TTK Road 2nd Cross Street: Rs 14,300 per sq.ft (2024)
• TTK Road (Mowbaries Road): Rs 17,600 per sq.ft (2024)
• Turn Bulls 1st Cross Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls 1st Street: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in TTK Road 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers TTK Road 1st Cross Street?

The Sub Registrar Office that covers TTK Road 1st Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For further details, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial obligations involved in the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of TTK Road 1st Cross Street?

The current guideline value of TTK Road 1st Cross Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for TTK Road 1st Cross Street has changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for TTK Road 1st Cross Street?

The land classification for TTK Road 1st Cross Street is Residential Special Type - IV, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in TTK Road 1st Cross Street?

The stamp duty for properties in TTK Road 1st Cross Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total cost of Rs 12,87,000 in duties and fees.

Which office handles property registrations for TTK Road 1st Cross Street?

The Chennai Central Joint I Sub Registrar Office handles property registrations for TTK Road 1st Cross Street. It is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.