Guideline Value for Market faram 3rd street

Market faram 3rd street guideline value

The current guideline value of Market faram 3rd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Market faram 3rd street has changed

The guideline value for Market faram 3rd street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 600 per sq.ft. This value increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The value further increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Market faram 3rd street is below this median.

• Market faram 2nd street: Rs 1,300 per sq.ft (2024)
• Market faram 5th street: Rs 1,300 per sq.ft (2024)
• Market faram 6th street: Rs 1,300 per sq.ft (2024)
• Market faram 7th street: Rs 1,300 per sq.ft (2024)
• Market faram 8th street: Rs 1,300 per sq.ft (2024)
• Market faram Ist street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Market faram 3rd street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Market faram 3rd street?

The Sub Registrar Office that covers Market faram 3rd street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Tondaiarpet. It helps determine the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

When you register a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is transparent and consistent across the region.

Frequently asked questions

What is the current guideline value of Market faram 3rd street?

The current guideline value of Market faram 3rd street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What is the stamp duty for a property in Market faram 3rd street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%, along with a registration fee of Rs 26,000 at 2%, totaling Rs 1,17,000.

Which office handles the registration for Market faram 3rd street?

The Royapuram Sub Registrar Office handles the registration for Market faram 3rd street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Market faram 3rd street?

Market faram 3rd street is classified as Residential Class II Type - I, indicating its designation for residential use.