Guideline Value for Mottai Garden 5 th Lane

Mottai Garden 5 th Lane guideline value

The current guideline value of Mottai Garden 5 th 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 5 th Lane has changed

The guideline value for Mottai Garden 5 th Lane has undergone several revisions over the years. The earliest available figure is from 2007, which was Rs 700 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 186% rise. However, in 2017, the value dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The value then saw a substantial increase to Rs 2,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 214%. The revisions for the years 2002 and 2003 do not have any recorded figures for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value range 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 Mottai Garden 5 th Lane's 2024 figure above this median.

• Mottai Garden 4th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 6th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 3rd Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 7th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 2nd Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 8th Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mottai Garden 5 th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mottai Garden 5 th Lane?

The Mottai Garden 5 th Lane falls under the Royapuram Sub Registrar Office located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of properties in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid issues during registration.

Frequently asked questions

What is the current guideline value of Mottai Garden 5 th Lane?

The current guideline value of Mottai Garden 5 th 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 increased from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 214% over the years.

What are the other streets with the same guideline value in Tondaiarpet?

Other streets in Tondaiarpet with the same guideline value of Rs 2,200 per sq.ft in 2024 include Mottai Garden 2nd Lane, 3rd Lane, 4th Lane, 6th Lane, 7th Lane, and 8th Lane.

What are the stamp duty rates applicable in Mottai Garden 5 th Lane?

The stamp duty rate applicable in Mottai Garden 5 th Lane is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Mottai Garden 5 th Lane?

The Royapuram Sub Registrar Office handles property registrations for Mottai Garden 5 th Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.