Guideline Value for Mottai Garden 6th Lane

Mottai Garden 6th Lane guideline value

The current guideline value of Mottai Garden 6th 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Mottai Garden 6th Lane has changed

The guideline value for Mottai Garden 6th Lane has seen several revisions over the years. The oldest recorded figure is from 2007, which was Rs 700 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2012, marking a 186% rise. However, it dropped to Rs 1,340 per sq.ft in 2017, reflecting a 33% decrease. The value then surged to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. The overall change from the 2007 figure to the current 2024 figure represents a substantial increase of 214%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry 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 6th Lane's guideline value is above this median.

• Mottai Garden 5 th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 7th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 4th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 8th Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 3rd Lane: Rs 2,200 per sq.ft (2024)
• Mottai Garden 9th Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mottai Garden 6th 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 fees together to 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mottai Garden 6th Lane?

The Sub Registrar Office that covers Mottai Garden 6th 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 critical reference point for property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area. Buyers should be aware that the guideline value can differ from the actual sale price of the property.

When registering a property, the authorities will charge the stamp duty based on the higher value between the guideline and the sale price. This ensures that the transaction is recorded accurately and that the necessary taxes are collected.

Frequently asked questions

What is the current guideline value for Mottai Garden 6th Lane?

The current guideline value for Mottai Garden 6th 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, reflecting an overall increase of 214% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Mottai Garden 6th Lane?

The Royapuram Sub Registrar Office handles registrations for Mottai Garden 6th Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Mottai Garden 6th Lane?

Mottai Garden 6th Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.