Guideline Value for Mottai Garden 2nd Lane

Mottai Garden 2nd Lane guideline value

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

How the guideline value of Mottai Garden 2nd Lane has changed

The guideline value for Mottai Garden 2nd Lane has seen significant changes over the years. In the 2007 revision, the value was Rs 700 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a substantial rise of 186% over the 16 years. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 214%. It is important to note that there are no figures available for the years 2002, 2003, 2012, and 2017 for this street.

Guideline values in Tondaiarpet

Tondaiarpet village has a total of 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, placing Mottai Garden 2nd Lane's current figure above that median.

• Mottai Garden 1st Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 3rd Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 13th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 4th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 12th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 5 th Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mottai Garden 2nd 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 at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mottai Garden 2nd Lane?

The Sub Registrar Office that covers Mottai Garden 2nd 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 an important factor when registering property transactions in Tondaiarpet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property rather than the negotiated sale price.

Frequently asked questions

What is the current guideline value of Mottai Garden 2nd Lane?

The current guideline value of Mottai Garden 2nd 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 from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 214%. There was a significant increase of 186% from 2007 to 2023, followed by a 10% increase from 2023 to 2024.

What is the land classification of Mottai Garden 2nd Lane?

Mottai Garden 2nd Lane is classified as Residential Class I Type - I. This classification is important for understanding the permissible uses of the land.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Mottai Garden 2nd Lane?

Stamp duty for properties in Mottai Garden 2nd Lane is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.