Guideline Value for Mottai Garden 4th Lane

Mottai Garden 4th Lane guideline value

The current guideline value of Mottai Garden 4th Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Mottai Garden 4th Lane has changed

The guideline value for Mottai Garden 4th Lane has seen several revisions over the years. In 2007, the 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, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,200 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value to Rs 2,000 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 214% from the initial Rs 700 per sq.ft.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values 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, positioning Mottai Garden 4th Lane above this median.

• Mottai Garden 3rd Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 5 th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 2nd Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 6th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 1st Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 7th Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mottai Garden 4th 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 be 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. Note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mottai Garden 4th Lane?

The Sub Registrar Office that covers Mottai Garden 4th 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 used as a benchmark during the registration of property transactions in Tondaiarpet. It helps determine the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mottai Garden 4th Lane?

The current guideline value of Mottai Garden 4th 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 significantly, from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What is the land classification for Mottai Garden 4th Lane?

Mottai Garden 4th Lane is classified as Residential Class I Type - I land, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Mottai Garden 4th Lane?

The Sub Registrar Office for Mottai Garden 4th Lane is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for registration fees.