Guideline Value for Model Line 7th Lane

Model Line 7th Lane guideline value

The current guideline value of Model Line 7th 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 7th Lane has changed

Over the years, the guideline value of Model Line 7th Lane has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. There was no change in the value from 2012 to 2023, where it remained at Rs 1,200 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 1,300 per sq.ft, marking an increase of 8% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. It is important to note that the register has no figures for the years 2002, 2003, and 2017 for this street.

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 guideline value for these streets is Rs 1,600 per sq.ft, making the current value of Model Line 7th Lane below that median.

• Model Line 6th lane: Rs 1,300 per sq.ft (2024)
• Model Line 8th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 5th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 9th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 4th Lane: Rs 1,300 per sq.ft (2024)
• Model Line Gudisai Paguthi Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Model Line 7th 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 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 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 details.

Which Sub Registrar Office covers Model Line 7th Lane?

The Sub Registrar Office covering Model Line 7th Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for additional information.

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

The guideline value is a crucial factor when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the necessary fees, ensuring that both parties are aware of the financial implications of the transaction. It is essential to refer to the latest guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Model Line 7th Lane?

The current guideline value of Model Line 7th 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 increased 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 other streets in Tondaiarpet with similar guideline values?

Other streets in Tondaiarpet with a guideline value of Rs 1,300 per sq.ft include Model Line 6th Lane, Model Line 8th Lane, Model Line 5th Lane, Model Line 9th Lane, and Model Line 4th Lane.

What are the stamp duty and registration fees for properties in Model Line 7th Lane?

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 the registration for Model Line 7th Lane?

The Royapuram Sub Registrar Office handles the registration for Model Line 7th Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.