Guideline Value for Temple Road 1st Cross Street

Temple Road 1st Cross Street guideline value

The current guideline value of Temple Road 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO, classified as Residential Class I Type - I.

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

Over the years, the guideline value of Temple Road 1st Cross Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft. The 2023 revision marked a rise to Rs 2,500 per sq.ft, and the most recent 2024 revision established the current value at Rs 2,700 per sq.ft. The register has no figure for this street in 2002 and 2003.

From 2007 to 2012, the value increased by 150%, but then it saw a decrease of 33% from 2012 to 2017. In the following years, from 2017 to 2023, there was a substantial increase of 49%. Finally, the jump from 2023 to 2024 reflects an 8% rise, resulting in an overall increase of 170% from 2007 to 2024.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value of Temple Road 1st Cross Street is below this median.

• Temple Road 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Thangavel Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Thanthoniamman Koil Street: Rs 2,700 per sq.ft (2024)
• Sundararaja Perumal Koil Street South: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Koil Street North: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Koil Street (Maniyammai Nagar): Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Temple Road 1st Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Peravallur

The guideline value is a crucial factor in the registration process of property transactions in Peravallur. When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of Temple Road 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with various increases and decreases across different years.

What is the land classification of Temple Road 1st Cross Street?

Temple Road 1st Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it covers Temple Road 1st Cross Street.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.