Guideline Value for Kuskan Street @ Ethka mosque Street

Kuskan Street @ Ethka mosque Street guideline value

The current guideline value of Kuskan Street @ Ethka mosque Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kuskan Street @ Ethka mosque Street has changed

Over the years, the guideline value for Kuskan Street @ Ethka mosque Street has seen several revisions. The 2007 revision recorded a guideline value of Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, a 49% increase, and finally reached Rs 4,900 per sq.ft in the 2024 revision, which is a 9% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 227%.

Guideline values in Muthialpet

Muthialpet village has a range of guideline values for its 160 streets under the Chennai North Joint I SRO, with the 2024 figures ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing the 2024 figure for Kuskan Street @ Ethka mosque Street below this median.

• Kuppupillai lane+: Rs 5,500 per sq.ft (2024)
• Krishnasamy pagoda street@Kabaleeswarar street+: Rs 5,500 per sq.ft (2024)
• Krishnan Koil street: Rs 7,100 per sq.ft (2024)
• Linghi Chetty street[from Mannady street Junction to Ibrahim sahib st Junction]: Rs 8,800 per sq.ft (2024)
• Linghi Chetty Street [fromN.S.C Bose Rd to Mookar Nallamuthu Street Junction]: Rs 15,900 per sq.ft (2024)
• Linghi Chetty street[ [from P.O.street Junction to Mannady street Junction]: Rs 14,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kuskan Street @ Ethka mosque Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. 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 information on calculating these fees.

Which Sub Registrar Office covers Kuskan Street @ Ethka mosque Street?

The Sub Registrar Office that covers Kuskan Street @ Ethka mosque Street is the Chennai North Joint I Sub Registrar Office, located at NSC Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and that the relevant taxes are collected based on the established values. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kuskan Street @ Ethka mosque Street?

The current guideline value of Kuskan Street @ Ethka mosque Street 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, representing an overall increase of 227% over the years.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles property registrations for Kuskan Street @ Ethka mosque Street?

The Chennai North Joint I Sub Registrar Office handles property registrations for Kuskan Street @ Ethka mosque Street, located at NSC Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is recorded accurately and that the appropriate taxes are collected based on established values.