Guideline Value for Ethka Mosque lane

Ethka Mosque lane guideline value

The current guideline value of Ethka Mosque lane in Muthialpet village is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Ethka Mosque lane has changed

The guideline value for Ethka Mosque lane has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this figure dropped to Rs 3,015 per sq.ft in 2017. The value then rose to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 4,900 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2007 to 2012, there was an increase of 200%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 9%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Ethka Mosque lane is below this median.

• Ethka Mosque street @Kuskan street: Rs 4,900 per sq.ft (2024)
• Errabalu street: Rs 16,500 per sq.ft (2024)
• Francis street (Joseph street): Rs 7,700 per sq.ft (2024)
• Geels lane: Rs 4,900 per sq.ft (2024)
• Geels street: Rs 7,700 per sq.ft (2024)
• Girims street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ethka Mosque lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total cost for these fees Rs 4,41,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ethka Mosque lane?

The Sub Registrar Office that covers Ethka Mosque lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Muthialpet. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the authorities will consider the guideline value to calculate the necessary fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ethka Mosque lane?

The current guideline value of Ethka Mosque lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Muthialpet?

The median guideline value in Muthialpet is Rs 5,500 per sq.ft, while Ethka Mosque lane's value is below this median.

What are the stamp duty and registration fees for property in Ethka Mosque lane?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,41,000.

Which office handles the registration for Ethka Mosque lane?

The Chennai North Joint I Sub Registrar Office handles the registration for Ethka Mosque lane, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.