Guideline Value for MARKET LANE KALADIPET

Market Lane Kaladipet guideline value

The current guideline value of Market Lane Kaladipet is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Market Lane Kaladipet has changed

The guideline value for Market Lane Kaladipet has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,600 per sq.ft in 2012. However, it saw a decrease to Rs 1,742 per sq.ft in 2017. The value then rose to Rs 2,600 per sq.ft in 2023, before reaching the current value of Rs 2,800 per sq.ft in 2024.

Between these revisions, there have been notable changes. From 2007 to 2012, the value increased by 333%. However, the value decreased by 33% from 2012 to 2017, followed by a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Market Lane Kaladipet is below this median.

• Marvadi Quarters: Rs 3,300 per sq.ft (2024)
• Masthan Koil Pattai: Rs 3,300 per sq.ft (2024)
• Mattumandai: Rs 2,150 per sq.ft (2024)
• Ma.Ve.Na. Nagar: Rs 2,800 per sq.ft (2024)
• Manikkam Nagar Extn: Rs 3,300 per sq.ft (2024)
• Manikkam Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Market Lane Kaladipet

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making a total of Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Market Lane Kaladipet?

The Sub Registrar Office that covers Market Lane Kaladipet is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When you register a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Market Lane Kaladipet?

The current guideline value of Market Lane Kaladipet is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, increasing from Rs 600 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, with notable changes in between.

What is the land classification for Market Lane Kaladipet?

Market Lane Kaladipet is classified as Residential Special Type - III according to the local land classification.

What are the stamp duty and registration fees for property in Market Lane Kaladipet?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would amount to Rs 2,52,000.

Where can I find the Sub Registrar Office for Market Lane Kaladipet?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find more details online.