Guideline Value for Model Line 6th lane

Model Line 6th lane guideline value

The current guideline value of Model Line 6th lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Model Line 6th lane has changed

The guideline value for Model Line 6th lane has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 600 per sq.ft. This value saw a significant increase to Rs 1,200 per sq.ft in 2012, remaining unchanged until the 2023 revision. In 2023, the value was Rs 1,200 per sq.ft, and it increased to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% rise from the previous year.

From 2007 to 2012, the guideline value doubled, reflecting a 100% increase. Overall, from 2007 to 2024, there has been a total increase of 117%. The register does not have figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, 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 in this area is Rs 1,600 per sq.ft, placing the 2024 figure for Model Line 6th lane below this median.

• Model Line 5th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 7th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 4th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 8th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 3rd Lane: Rs 1,300 per sq.ft (2024)
• Model Line 9th Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Model Line 6th 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, charged 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Model Line 6th lane?

The Sub Registrar Office that covers Model Line 6th lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction.

When registering a property, the guideline value is referenced to ensure that the appropriate fees are collected. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Model Line 6th lane?

The current guideline value for Model Line 6th 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, reflecting a total increase of 117% over the years.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office handles property registration for Model Line 6th lane?

The Royapuram Sub Registrar Office handles property registration for Model Line 6th lane, located at 535, Tondaiyarpet High Road, Chennai 600021.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees payable during property transactions. It ensures that the appropriate fees are collected based on the property's value.