Guideline Value for Model Line 5th Lane

Model Line 5th Lane guideline value

The current guideline value of Model Line 5th 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 5th Lane has changed

The guideline value for Model Line 5th Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 1,300 per sq.ft, marking an increase of 8% from the previous year.

Between 2007 and 2023, the guideline value experienced a significant increase of 100%. Overall, from 2007 to 2024, the guideline value has risen by 117%. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

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. The median guideline value in this area is Rs 1,600 per sq.ft, placing Model Line 5th Lane's 2024 figure below that median.

• Model Line 4th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 6th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 3rd Lane: Rs 1,300 per sq.ft (2024)
• Model Line 7th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 2nd Lane: Rs 1,300 per sq.ft (2024)
• Model Line 8th Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Model Line 5th 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, 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 and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Model Line 5th Lane?

The Sub Registrar Office that covers Model Line 5th Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering a property in Tondaiarpet. It helps determine the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately in the official register. It is important for buyers and sellers to be aware of these values to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Model Line 5th Lane?

The current guideline value of Model Line 5th Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 1,300 per sq.ft in 2024, representing an overall rise of 117%.

What are the stamp duty rates for properties in Model Line 5th Lane?

The stamp duty for properties in Model Line 5th Lane is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, which is higher than the current guideline value of Model Line 5th Lane.