Guideline Value for Market farm 4th street

Market farm 4th street guideline value

The current guideline value for Market farm 4th 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 farm 4th street has changed

The guideline value for Market farm 4th street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, the guideline value has increased by 8% from 2012 to 2024. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 1,600 per sq.ft. The guideline value for Market farm 4th street is below this median.

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

Stamp duty and registration fee for property in Market farm 4th 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, while the registration fee at 2% would be Rs 26,000, bringing the total to 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 calculate your specific fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Market farm 4th street?

The Sub Registrar Office that covers Market farm 4th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process for property transactions in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the costs involved in the transaction. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value for Market farm 4th street?

The current guideline value for Market farm 4th 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, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, an increase of 8%. The value also saw a significant rise of 49% from 2017 to 2023.

What is the land classification for Market farm 4th street?

Market farm 4th street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

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

Where is the Sub Registrar Office for Market farm 4th street located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, and it handles registrations for Market farm 4th street.