Guideline Value for Market faram 6th street

Market faram 6th street guideline value

The current guideline value for Market faram 6th street is Rs 1,300 per sq.ft. 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 6th street has changed

The guideline value for Market faram 6th street has seen several changes over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, this value decreased to Rs 804 per sq.ft in the 2017 revision. The 2023 revision saw a rise to Rs 1,200 per sq.ft, which was then increased to the current value of Rs 1,300 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects an 8% increase. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO, with the 2024 guideline figures ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, positioning Market faram 6th street's value below that median.

• Market faram 5th street: Rs 1,300 per sq.ft (2024)
• Market faram 7th street: Rs 1,300 per sq.ft (2024)
• Market faram 3rd street: Rs 1,300 per sq.ft (2024)
• Market faram 8th street: Rs 1,300 per sq.ft (2024)
• Market faram 2nd 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 6th street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Market faram 6th street?

The Sub Registrar Office that covers Market faram 6th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the land records.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Market faram 6th street?

The current guideline value for Market faram 6th 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 several times, starting from Rs 600 per sq.ft in 2007, reaching Rs 1,200 in 2012, dropping to Rs 804 in 2017, and then increasing to Rs 1,200 in 2023, before finally rising to Rs 1,300 in 2024.

What is the land classification for Market faram 6th street?

Market faram 6th street is classified as Residential Class II Type - I, which is a designation used for residential properties in the area.

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

The Sub Registrar Office for Market faram 6th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the 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, if the guideline value is Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.