Guideline Value for Q.Q. Scheme Road

Q.Q. Scheme Road guideline value

The current guideline value of Q.Q. Scheme Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - II.

How the guideline value of Q.Q. Scheme Road has changed

The guideline value for Q.Q. Scheme Road has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft. It increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 114%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 129%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, which is equal to the guideline value of Q.Q. Scheme Road. Below are the guideline values for other streets in Tondaiarpet:

• P.W.D. Quarters: Rs 1,300 per sq.ft (2024)
• P.W.D Colony: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam Pradana Salai: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 7th Street: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 6th Street: Rs 1,300 per sq.ft (2024)
• Puthumanai Kuppam 5th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Q.Q. Scheme Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Q.Q. Scheme Road?

The Sub Registrar Office covering Q.Q. Scheme 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 information.

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

The guideline value is a crucial factor when buying or selling property in Tondaiarpet. It serves as the baseline for determining the stamp duty and registration fees during the property registration process. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees.

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

Frequently asked questions

What is the current guideline value of Q.Q. Scheme Road?

The current guideline value of Q.Q. Scheme Road is Rs 1,600 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 1,600 per sq.ft in 2024, reflecting an overall increase of 129% over the years.

What are the guideline values for other streets in Tondaiarpet?

Other streets in Tondaiarpet have varying guideline values, with many streets listed at Rs 1,300 per sq.ft in 2024, while the median value for the area is Rs 1,600 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same amount.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.