Guideline Value for Trust Square Ist Cross Street

Trust Square Ist Cross Street guideline value

The current guideline value of Trust Square Ist Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Trust Square Ist Cross Street has changed

Over the years, the guideline value for Trust Square Ist Cross Street has seen several revisions. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 has increased it further to Rs 5,500 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

The changes between revisions are noteworthy. From 2007 to 2012, there was a substantial increase of 317%. However, the value decreased by 33% from 2012 to 2017. The increase from 2017 to 2023 was 49%, and the most recent change from 2023 to 2024 reflects a 10% rise. Overall, from 2007 to 2024, the guideline value has increased by 358%.

Guideline values in Ayanavaram

Ayanavaram features a total of 369 streets under the AnnaNagar SRO, with a 2024 guideline value range from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for the area is Rs 4,900 per sq.ft, placing Trust Square Ist Cross Street above this median with its current value of Rs 5,500 per sq.ft.

• Trust Square Iind Street: Rs 5,500 per sq.ft (2024)
• Trust Square: Rs 5,500 per sq.ft (2024)
• Ujjainee Street: Rs 4,900 per sq.ft (2024)
• United India Nagar 2nd cross Street: Rs 5,500 per sq.ft (2024)
• United India Nagar 2nd Main Road: Rs 5,500 per sq.ft (2024)
• United India Nagar 3rd cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Trust Square Ist Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Trust Square Ist Cross Street?

The Sub Registrar Office that covers Trust Square Ist Cross Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations and to avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Trust Square Ist Cross Street?

The current guideline value of Trust Square Ist Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,200 per sq.ft in 2007 and reaching Rs 5,500 per sq.ft in 2024. There were increases and decreases in between, with the most significant rise occurring from 2017 to 2023.

What is the land classification for Trust Square Ist Cross Street?

The land classification for Trust Square Ist Cross Street is Residential Class I Type - II. This classification is important for understanding the type of development permitted in the area.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, on a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Where can I find the Sub Registrar Office for Trust Square Ist Cross Street?

The Sub Registrar Office for Trust Square Ist Cross Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information online.