Guideline Value for Model Line 1st Lane

Model Line 1st Lane guideline value

The current guideline value of Model Line 1st Lane in Tondaiarpet village, under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Model Line 1st Lane has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 saw an increase to Rs 1,300 per sq.ft, representing a significant rise of 62% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. It is important to note that the register has no 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 guideline value for these streets is Rs 1,600 per sq.ft, placing Model Line 1st Lane's 2024 figure below that median.

• Model Line 10th 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 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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, resulting in a total of 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Model Line 1st Lane?

The Sub Registrar Office covering Model Line 1st 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 critical factor during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are essential for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Model Line 1st Lane?

The current guideline value of Model Line 1st 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been an 8% increase.

What is the median guideline value in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, which is higher than the current value of Model Line 1st Lane.

What are the stamp duty and registration fees for properties in Model Line 1st Lane?

The stamp duty for a property valued at Rs 13,00,000 would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations for Model Line 1st Lane?

The Royapuram Sub Registrar Office handles property registrations for Model Line 1st Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.