Guideline Value for Model Line 10th Lane

Model Line 10th Lane guideline value

The current guideline value of Model Line 10th Lane 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 Model Line 10th Lane has changed

The guideline value for Model Line 10th Lane has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease in 2017, where the value dropped to Rs 804 per sq.ft. However, in the 2024 revision, the guideline value increased significantly to Rs 1,300 per sq.ft, marking a 62% rise from the 2017 figure. Overall, from 2012 to 2024, the value saw a slight increase of 8%.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 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. The median value for these streets is Rs 1,600 per sq.ft, which indicates that the guideline value of Model Line 10th Lane is below this median.

• Model Line 1st Lane: Rs 1,300 per sq.ft (2024)
• Model Line 1st Street: Rs 1,300 per sq.ft (2024)
• Model Line 2nd Lane: Rs 1,300 per sq.ft (2024)
• Model Line 3rd Lane: Rs 1,300 per sq.ft (2024)
• Model Line 4th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 5th Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Model Line 10th Lane

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 and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Model Line 10th Lane?

The Sub Registrar Office that covers Model Line 10th Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Model Line 10th Lane?

The current guideline value of Model Line 10th Lane 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, and then increased to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been an increase of 8%.

What are the guideline values for other streets in Tondaiarpet?

Other streets in Tondaiarpet have a guideline value of Rs 1,300 per sq.ft in 2024, including Model Line 1st Lane, Model Line 1st Street, Model Line 2nd Lane, Model Line 3rd Lane, Model Line 4th Lane, and Model Line 5th Lane.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For a 1,000 sq.ft plot at the current rate, the total costs can be calculated accordingly.

Where can I find the Sub Registrar Office for Model Line 10th Lane?

The Sub Registrar Office for Model Line 10th Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.