Guideline Value for Model Town

Model Town guideline value

The current guideline value of Model Town in Sokandi village is Rs 250 per sq.ft, effective from the 2024 revision. This area falls under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Model Town has changed

The guideline value for Model Town has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased to Rs 250 per sq.ft in 2012. However, it dropped to Rs 167 per sq.ft in 2017, before returning to Rs 250 per sq.ft in both 2023 and 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 50%, while the value remained unchanged from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 150%.

Guideline values in Sokandi

In Sokandi village, there are 35 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 1,000 per sq.ft. The median value is Rs 300 per sq.ft, placing Model Town's 2024 figure below this median.

• MathaKovil Street: Rs 450 per sq.ft (2024)
• Mariamman Kovil Street: Rs 200 per sq.ft (2024)
• Kuzhandai Easu Nagar: Rs 275 per sq.ft (2024)
• Perumal Kovil Street: Rs 275 per sq.ft (2024)
• Perumal Kovil Street (colonyi): Rs 181 per sq.ft (2024)
• Ponniamman nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Model Town

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total fees Rs 22,500. 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 Town?

The Sub Registrar Office covering Model Town is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Sokandi. It determines the minimum value at which a property can be registered, influencing the stamp duty and registration fees applicable during the buying or selling process.

When you register a property, the guideline value is used to assess the applicable fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the actual sale price, ensuring that the registration reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Model Town?

The current guideline value of Model Town is Rs 250 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed several times, starting at Rs 100 per sq.ft in 2007, increasing to Rs 250 per sq.ft in 2012, dropping to Rs 167 per sq.ft in 2017, and returning to Rs 250 per sq.ft in both 2023 and 2024.

What are the other streets in Sokandi with their guideline values?

Other streets in Sokandi include MathaKovil Street at Rs 450 per sq.ft, Mariamman Kovil Street at Rs 200 per sq.ft, Kuzhandai Easu Nagar at Rs 275 per sq.ft, Perumal Kovil Street at Rs 275 per sq.ft, Perumal Kovil Street (colonyi) at Rs 181 per sq.ft, and Ponniamman nagar at Rs 250 per sq.ft.

What is the stamp duty rate for properties in Model Town?

The stamp duty rate for properties in Model Town is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Model Town?

The Sub Registrar Office for Model Town is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.