Guideline Value for Model Line 9th Lane

Model Line 9th Lane guideline value

The current guideline value of Model Line 9th 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 9th Lane has changed

The guideline value for Model Line 9th Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a significant rise of 100%. This figure remained unchanged through the 2023 revision, which also recorded Rs 1,200 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 1,300 per sq.ft, reflecting an increase of 8% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register 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, placing Model Line 9th Lane's 2024 figure below that median.

• Model Line 8th Lane: Rs 1,300 per sq.ft (2024)
• Model Line Gudisai Paguthi Street: Rs 1,100 per sq.ft (2024)
• Model Line 7th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 6th lane: Rs 1,300 per sq.ft (2024)
• Model Line 5th Lane: Rs 1,300 per sq.ft (2024)
• Model Line 4th Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Model Line 9th 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, charged at 7%, would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for these fees would be Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Model Line 9th Lane?

The Sub Registrar Office that covers Model Line 9th Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more details, you can find your SRO.

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

The guideline value is a crucial factor during the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory for legal property transactions.

Frequently asked questions

What is the current guideline value of Model Line 9th Lane?

The current guideline value of Model Line 9th 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, marking a total increase of 117% over the years.

What are the stamp duty and registration fees for properties in Model Line 9th 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 registrations for Model Line 9th Lane?

The Royapuram Sub Registrar Office handles registrations for Model Line 9th Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification of Model Line 9th Lane?

Model Line 9th Lane is classified as Residential Class II Type - I, indicating its designation for residential purposes.