Guideline Value for TTK Road 2nd Cross Street

TTK Road 2nd Cross Street guideline value

The current guideline value for TTK Road 2nd 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 2nd Cross Street has changed

The guideline value for TTK Road 2nd Cross Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 13,000 per sq.ft, which was then increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This increase reflects a significant adjustment in the guideline value, moving from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. This change indicates a notable shift in the valuation of properties in this area.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a total of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing TTK Road 2nd Cross Street's 2024 figure above the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total 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 charges to Rs 12,87,000. 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 TTK Road 2nd Cross Street?

The Sub Registrar Office that covers TTK Road 2nd Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Mylapore Part 1. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that all transactions are transparent and adhere to the regulatory framework set by the authorities.

Frequently asked questions

What is the current guideline value for TTK Road 2nd Cross Street?

The current guideline value for TTK Road 2nd Cross Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024.

What is the land classification for TTK Road 2nd Cross Street?

The land classification for TTK Road 2nd Cross Street is Residential Special Type - IV.

Which Sub Registrar Office covers TTK Road 2nd Cross Street?

The Chennai Central Joint I Sub Registrar Office covers TTK Road 2nd Cross Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.