Guideline Value for M.O.C. STREET

M.O.C. Street guideline value

The current guideline value of M.O.C. Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of M.O.C. Street has changed

The guideline value for M.O.C. Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,200 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007.

Examining the changes, we see that from 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The guideline value then increased by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 figure for M.O.C. Street. Below are other streets in Jelandianpettai with their respective guideline values:

• Mothilal Nehru Street: Rs 2,200 per sq.ft (2024)
• M.G.R. Street: Rs 2,200 per sq.ft (2024)
• M.G.R. Salai: Rs 2,200 per sq.ft (2024)
• M.G.R. Cross Street: Rs 2,200 per sq.ft (2024)
• Medavakkam Annex Salai: Rs 2,200 per sq.ft (2024)
• Masoothi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in M.O.C. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty is calculated at 7%, amounting to Rs 1,54,000, while the registration fee is charged at 2%, totaling Rs 44,000. Therefore, the combined total for stamp duty and registration fee would be Rs 1,98,000. It is important to note that 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 M.O.C. Street?

The Sub Registrar Office that covers M.O.C. Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a value that reflects the market conditions set by the registration department.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M.O.C. Street?

The current guideline value of M.O.C. Street 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Jelandianpettai with the same guideline value?

Other streets in Jelandianpettai that have the same guideline value of Rs 2,200 per sq.ft in 2024 include Mothilal Nehru Street, M.G.R. Street, M.G.R. Salai, M.G.R. Cross Street, Medavakkam Annex Salai, and Masoothi Street.

Where can I find the Sub Registrar Office for M.O.C. Street?

The Sub Registrar Office for M.O.C. Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Jelandianpettai?

Stamp duty for properties in Jelandianpettai is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.