Guideline Value for Model Line 1st Street

Model Line 1st Street guideline value

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

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

The guideline value for Model Line 1st Street has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2024 revision, the guideline value increased significantly to Rs 1,300 per sq.ft, reflecting a rise of 62% from the 2017 figure.

Overall, when comparing the 2012 and 2024 figures, there has been a slight increase of 8%. It is important to note that there are no registered figures for Model Line 1st Street for the years 2002, 2003, 2007, and 2023.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with a 2024 guideline value range from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Model Line 1st Street is below this median.

• Model Line 1st Lane: Rs 1,300 per sq.ft (2024)
• Model Line 2nd Lane: Rs 1,300 per sq.ft (2024)
• Model Line 10th 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 Street

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

Which Sub Registrar Office covers Model Line 1st Street?

The Sub Registrar Office that covers Model Line 1st Street 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 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 used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Model Line 1st 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 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, there has been an 8% increase from 2012 to 2024.

What is the land classification for Model Line 1st Street?

Model Line 1st Street is classified under Residential Class II Type - I, indicating its designation for residential use.

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

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

Which office handles registrations for Model Line 1st Street?

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