Guideline Value for Model Line 2nd Lane

Model Line 2nd Lane guideline value

The current guideline value of Model Line 2nd Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Model Line 2nd Lane has changed

The guideline value for Model Line 2nd Lane has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, from 2012 to 2017, it decreased to Rs 804 per sq.ft, representing a decline of 33%. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is a significant increase of 62% from the 2017 figure.

It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft as of 2024. The median value for these streets is Rs 1,600 per sq.ft, which means the guideline value of Model Line 2nd Lane is below that median.

• Model Line 1st Street: Rs 1,300 per sq.ft (2024)
• Model Line 3rd Lane: Rs 1,300 per sq.ft (2024)
• Model Line 1st Lane: Rs 1,300 per sq.ft (2024)
• Model Line 4th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 10th 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 2nd 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, making the total 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Model Line 2nd Lane?

The Sub Registrar Office that covers Model Line 2nd 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 during the registration of property transactions in Tondaiarpet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall costs involved in the transaction. Buyers should ensure they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Model Line 2nd Lane?

The current guideline value of Model Line 2nd 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 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various revisions in between, including declines and increases in value.

What is the land classification of Model Line 2nd Lane?

Model Line 2nd Lane is classified as 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?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Where is the Sub Registrar Office located for Model Line 2nd Lane?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, and covers Model Line 2nd Lane.