Guideline Value for Market faram 5th street

Market faram 5th street guideline value

The current guideline value for Market faram 5th 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 5th street has changed

The guideline value for Market faram 5th street has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, this was followed by a decrease to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, before reaching the current rate of Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a 100% increase. Overall, from 2007 to 2024, the guideline value has increased by 117%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, indicating that the 2024 figure for Market faram 5th street is below this median.

• Market faram 3rd street: Rs 1,300 per sq.ft (2024)
• Market faram 6th street: Rs 1,300 per sq.ft (2024)
• Market faram 2nd 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 5th street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Market faram 5th street?

The Sub Registrar Office that covers Market faram 5th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for additional information.

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

When buying or selling property in Tondaiarpet, the guideline value is crucial as it determines the amount of stamp duty and registration fees payable. The guideline value serves as a benchmark for property transactions, ensuring that the fees are calculated based on an established rate rather than the sale price alone.

It is important for buyers and sellers to be aware of the guideline value as it can affect the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value for Market faram 5th street?

The current guideline value for Market faram 5th 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, representing an overall increase of 117% over the years.

What is the land classification for Market faram 5th street?

Market faram 5th street is classified as Residential Class II Type - I according to the local guidelines.

Where can I find the registration office for Market faram 5th street?

The registration office for Market faram 5th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Tondaiarpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.