Guideline Value for Market faram Ist street

Market faram Ist street guideline value

The current guideline value of Market faram Ist 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 Ist street has changed

The guideline value for Market faram Ist 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. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has set the value at Rs 1,300 per sq.ft.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, the subsequent revisions show an increase of 49% from 2017 to 2023, and an increase of 8% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Tondaiarpet

Tondaiarpet village has a total of 1,384 streets under the Royapuram SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, making the guideline value of Market faram Ist street below this median.

• Market faram 8th street: Rs 1,300 per sq.ft (2024)
• Market farm 4th street: Rs 1,300 per sq.ft (2024)
• Market faram 7th street: Rs 1,300 per sq.ft (2024)
• Market faram 6th 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 Ist 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 be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Market faram Ist street?

The Sub Registrar Office that covers Market faram Ist 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 the registration process for property transactions in Tondaiarpet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges reflect the official valuation of the property.

When buying or selling property, it is essential to understand that the guideline value will influence the overall costs involved in the transaction. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact their financial planning.

Frequently asked questions

What is the current guideline value of Market faram Ist street?

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

How has the guideline value changed over the years?

Over the years, the guideline value has experienced fluctuations, with the 2012 revision at Rs 1,200 per sq.ft, a decrease to Rs 804 per sq.ft in 2017, and an increase to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 has set it at Rs 1,300 per sq.ft.

What is the land classification of Market faram Ist street?

Market faram Ist street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What is the registration office for Market faram Ist street?

The registration office that covers Market faram Ist 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 guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.