Guideline Value for Old Glass Factory Road

Old Glass Factory Road guideline value

The current guideline value of Old Glass Factory Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class I Type - I.

How the guideline value of Old Glass Factory Road has changed

The guideline value for Old Glass Factory Road has seen several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision, marking a change of +122%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a +10% increase from the 2012 figure. The register has no figures for the years 2023, 2017, 2003, and 2002.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +144%. This progression illustrates the changes in the guideline value over the years, highlighting the current rate of Rs 2,200 per sq.ft as a significant figure for this street.

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 guideline value for these streets is Rs 1,600 per sq.ft, making the current figure for Old Glass Factory Road above that median.

• Old Jail Road: Rs 1,600 per sq.ft (2024)
• Old Amarvathi Puram: Rs 1,300 per sq.ft (2024)
• Old Amaranjipuram Street: Rs 1,300 per sq.ft (2024)
• Old Amaranjipuram (Back): Rs 1,300 per sq.ft (2024)
• Old Pumping Station Road: Rs 2,200 per sq.ft (2024)
• North Terminus Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Old Glass Factory Road

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 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 or the sale price.

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

Which Sub Registrar Office covers Old Glass Factory Road?

The Sub Registrar Office that covers Old Glass Factory Road is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Tondaiarpet. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that both parties are aware of the financial implications of the transaction.

It is essential for buyers and sellers to understand the guideline value as it impacts the overall cost of property transactions. This value is regularly updated, reflecting changes in the real estate landscape and ensuring that the fees remain aligned with current market conditions.

Frequently asked questions

What is the current guideline value of Old Glass Factory Road?

The current guideline value of Old Glass Factory Road 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 900 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, and then to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2023, 2017, 2003, and 2002.

What is the land classification for Old Glass Factory Road?

Old Glass Factory Road is classified as Residential Class I Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property in Old Glass Factory Road?

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. These fees are calculated based on the guideline value.

Where is the Sub Registrar Office for Old Glass Factory Road located?

The Sub Registrar Office covering Old Glass Factory Road is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.