Guideline Value for Market faram 8th street

Market faram 8th street guideline value

The current guideline value of Market faram 8th 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 8th street has changed

The guideline value for Market faram 8th street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. The value rose to Rs 1,200 per sq.ft in 2023, and then further increased to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 8%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in the area is Rs 1,600 per sq.ft, which means that the 2024 figure for Market faram 8th street is below this median.

• Market faram 7th street: Rs 1,300 per sq.ft (2024)
• Market faram Ist street: Rs 1,300 per sq.ft (2024)
• Market faram 6th street: Rs 1,300 per sq.ft (2024)
• Market farm 4th street: Rs 1,300 per sq.ft (2024)
• Market faram 5th street: Rs 1,300 per sq.ft (2024)
• Market faram 3rd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Market faram 8th 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, 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.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Market faram 8th street?

The Sub Registrar Office covering Market faram 8th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. Proper understanding of these values ensures compliance with local regulations during property registration.

Frequently asked questions

What is the current guideline value of Market faram 8th street?

The current guideline value of Market faram 8th 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 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the classification of Market faram 8th street?

Market faram 8th street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 1,17,000 in fees.

Where is the Sub Registrar Office for Market faram 8th street located?

The Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.