Guideline Value for Turnbulls Road 3rd Cross Street

Turnbulls Road 3rd Cross Street guideline value

The current guideline value for Turnbulls Road 3rd Cross Street is Rs 10,900 per sq.ft, effective from 1 July 2024. This street is located in the Mylapore Part 1 village under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Turnbulls Road 3rd Cross Street has changed

The guideline value for Turnbulls Road 3rd Cross Street has seen several revisions over the years. The register shows no figures for this street in the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions indicate that in 2023, the guideline value was Rs 10,000 per sq.ft, which increased by 9% to Rs 10,900 per sq.ft in 2024.

This increase reflects a shift in the guideline value from the previous year, demonstrating a rise in property valuation. The 2024 figure is now established as the current rate for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Turnbulls Road 3rd Cross Street's 2024 figure of Rs 10,900 per sq.ft is above this median.

• Turn Bulls Road 2 & 4th Cross Street: Rs 10,900 per sq.ft (2024)
• Turnbulls Road 5th Cross Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls Road: Rs 14,300 per sq.ft (2024)
• Turnbulls Road 6th Cross Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls 3rd Street: Rs 10,900 per sq.ft (2024)
• Turn Bulls Road Extention: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Turnbulls Road 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 10,900 per sq.ft, the total guideline value amounts to Rs 1,09,00,000. The stamp duty at 7% would be Rs 7,63,000, and the registration fee at 2% would be Rs 2,18,000, bringing the total charges to Rs 9,81,000. 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 Turnbulls Road 3rd Cross Street?

The Sub Registrar Office that covers Turnbulls Road 3rd 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 in property transactions in Mylapore Part 1, as it determines the amount of stamp duty and registration fees payable during the sale process. Buyers and sellers should be aware of the latest guideline values to ensure they are prepared for the financial implications of their transactions.

When registering a property, the guideline value serves as a benchmark for the transaction value, ensuring that the fees are calculated based on the higher of the guideline value or the actual sale price. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Turnbulls Road 3rd Cross Street?

The current guideline value of Turnbulls Road 3rd Cross Street is Rs 10,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for this street has changed from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, reflecting a 9% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Turnbulls Road 3rd Cross Street?

The land classification for Turnbulls Road 3rd Cross Street is Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Turnbulls Road 3rd Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the 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. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 7,63,000.