Guideline Value for Model Line 3rd Lane

Model Line 3rd Lane guideline value

The current guideline value of Model Line 3rd 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 3rd Lane has changed

The guideline value for Model Line 3rd 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% increase. However, in the next revision in 2017, the value dropped to Rs 804 per sq.ft, reflecting a decrease of 33% from the previous revision. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, representing a significant increase of 62% from 2017.

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 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, making the 2024 figure for Model Line 3rd Lane below the median.

• Model Line 2nd Lane: Rs 1,300 per sq.ft (2024)
• Model Line 4th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 1st Street: Rs 1,300 per sq.ft (2024)
• Model Line 5th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 1st Lane: Rs 1,300 per sq.ft (2024)
• Model Line 6th lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Model Line 3rd Lane

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Model Line 3rd Lane?

The Sub Registrar Office that covers Model Line 3rd 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 an essential factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Tondaiarpet, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is crucial for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during property registration. This value plays a significant role in the overall transaction process.

Frequently asked questions

What is the current guideline value of Model Line 3rd Lane?

The current guideline value of Model Line 3rd Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much 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, marking an overall increase of 117% over the years.

What are the stamp duty and registration fees for properties 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 property registrations for Model Line 3rd Lane?

The Royapuram Sub Registrar Office handles property registrations for Model Line 3rd Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

Are there other streets with the same guideline value in Tondaiarpet?

Yes, several other streets in Tondaiarpet also have a guideline value of Rs 1,300 per sq.ft in 2024, including Model Line 2nd Lane, Model Line 4th Lane, Model Line 1st Street, Model Line 5th Lane, Model Line 1st Lane, and Model Line 6th lane.