Guideline Value for MOCHERRI SOUTH STREET

Mocherri South Street guideline value

The current guideline value of Mocherri South Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village and falls under the Madurandakam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Mocherri South Street has changed

The guideline value for Mocherri South Street has undergone several revisions over the years. In 2007, the value was set at Rs 80 per sq.ft, which saw a significant increase of 650% to Rs 600 per sq.ft in 2012. However, the value decreased by 33% to Rs 402 per sq.ft in 2017. Following this, the value rose by 49% to Rs 600 per sq.ft in 2023, and then increased by 10% to the current value of Rs 660 per sq.ft in 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Mathuranthagam

In Mathuranthagam village, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, placing Mocherri South Street's 2024 figure below that median.

• Mocherri Middle Street: Rs 660 per sq.ft (2024)
• Mocherri West Street: Rs 660 per sq.ft (2024)
• Mocherri East Street: Rs 660 per sq.ft (2024)
• Mocherry Northstreet: Rs 660 per sq.ft (2024)
• Mocherri Colony: Rs 660 per sq.ft (2024)
• Middle Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Mocherri South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mocherri South Street?

The Sub Registrar Office that covers Mocherri South Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mathuranthagam. It serves as a benchmark for determining the minimum price at which property transactions can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a property is sold, the buyer must pay stamp duty based on the higher value between the guideline value and the actual sale price. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mocherri South Street?

The current guideline value of Mocherri South Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What is the median guideline value in Mathuranthagam?

The median guideline value in Mathuranthagam is Rs 1,100 per sq.ft, with Mocherri South Street's value being below this median at Rs 660 per sq.ft.

What are the stamp duty and registration fees for a property in Mocherri South Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, making a total of Rs 59,400.

Which office handles registrations for Mocherri South Street?

The Madurandakam Sub Registrar Office handles registrations for Mocherri South Street, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.