Guideline Value for Mottai Garden 12th Lane

Mottai Garden 12th Lane guideline value

The current guideline value of Mottai Garden 12th Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - I.

How the guideline value of Mottai Garden 12th Lane has changed

The guideline value for Mottai Garden 12th Lane has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 186%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then increased again to Rs 2,000 per sq.ft in 2023, and now stands at Rs 2,200 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 214%. The changes between the revisions indicate a fluctuating pattern, with substantial increases and decreases observed in different periods.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Mottai Garden 12th Lane's current guideline value of Rs 2,200 per sq.ft is above this median.

• Mottai Garden 11th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 13th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 10th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 1st Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 2nd Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 3rd Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mottai Garden 12th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty would be charged at 7%, amounting to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mottai Garden 12th Lane?

The Sub Registrar Office that covers Mottai Garden 12th Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value of the property for the purpose of stamp duty and registration fees.

When a property is bought or sold, the seller and buyer must consider the guideline value to ensure that the transaction is compliant with local regulations. This value helps in assessing the appropriate fees that need to be paid during the registration process.

Frequently asked questions

What is the current guideline value of Mottai Garden 12th Lane?

The current guideline value of Mottai Garden 12th Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024. Notable changes include a rise to Rs 2,000 per sq.ft in 2012 and a decrease to Rs 1,340 per sq.ft in 2017.

What is the land classification of Mottai Garden 12th Lane?

Mottai Garden 12th Lane is classified as Residential Class I Type - I, which indicates its designation for residential use.

Where can I find the Sub Registrar Office for Mottai Garden 12th Lane?

The Sub Registrar Office for Mottai Garden 12th Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What fees are associated with buying property in Mottai Garden 12th Lane?

When buying property in Mottai Garden 12th Lane, buyers should consider the stamp duty at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.