Guideline Value for Temple Road 2nd Cross Street

Temple Road 2nd Cross Street guideline value

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

How the guideline value of Temple Road 2nd Cross Street has changed

The guideline value for Temple Road 2nd Cross Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 1,675 per sq.ft. Following this, the value saw a significant rise to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in the 2024 revision.

In terms of percentage changes, the increase from 2007 to 2012 was +150%, followed by a decrease of -33% from 2012 to 2017. The value then rose by +49% from 2017 to 2023, and finally, there was an increase of +8% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by +170%. The register has no figures for the years 2002 and 2003 for this street.

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 for Temple Road 2nd Cross Street is below this median.

• Temple Road 1st 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 2nd 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 amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total costs together to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Temple Road 2nd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as the base value for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is bought or sold, the guideline value helps determine the legal and financial obligations of the parties involved. It is essential for buyers and sellers 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 Temple Road 2nd Cross Street?

The current guideline value of Temple Road 2nd 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, reflecting an overall increase of +170% over this period.

What are the guideline values of other streets in Peravallur?

Other streets in Peravallur have varying guideline values, with rates ranging from Rs 2,700 to Rs 4,400 per sq.ft in 2024. Notably, Thangavel Street (Vetri Nagar) has a value of Rs 3,301 per sq.ft.

What fees are associated with buying property in Temple Road 2nd Cross Street?

When buying property, the fees include stamp duty at 7% of the guideline value and a registration fee at 2%. For a 1,000 sq.ft property, these fees total Rs 2,43,000.

Where can I find the Sub Registrar Office for Temple Road 2nd Cross Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Temple Road 2nd Cross Street.