Guideline Value for Trust Square

Trust Square guideline value

The current guideline value of Trust Square in Ayanavaram village, under the AnnaNagar SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Trust Square has changed

The guideline value of Trust Square has seen significant changes over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 317%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 358%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Trust Square's 2024 figure above the median.

• Trust Square Iind Street: Rs 5,500 per sq.ft (2024)
• Trust Square Ist Cross Street: 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

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 charged 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 charges would be Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Trust Square?

The Sub Registrar Office that covers Trust Square is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Ayanavaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of buying or selling a property.

When a property is sold, the buyer must pay these fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Trust Square?

The current guideline value of Trust Square 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 significantly, from Rs 1,200 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 358% over the years.

What are the stamp duty and registration fees for property in Trust Square?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Trust Square?

The AnnaNagar Sub Registrar Office covers Trust Square, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Trust Square?

Trust Square is classified as Residential Class I Type - II, indicating its designation for residential purposes.