Guideline Value for MOCHERRY NORTHSTREET

Mocherry Northstreet guideline value

The current guideline value of Mocherry Northstreet 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 Mocherry Northstreet has changed

The guideline value for Mocherry Northstreet has seen significant changes over the years. In 2007, the value was Rs 80 per sq.ft, which increased dramatically to Rs 600 per sq.ft in 2012, marking a rise of 650%. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, a decline of 33%. The value then rose to Rs 600 per sq.ft in 2023, followed by another increase to Rs 660 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 725%. The revisions reflect the changing landscape and valuation of properties in the area, with the most recent figure indicating a positive trend in the guideline value.

Guideline values in Mathuranthagam

In Mathuranthagam, 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, with a median value of Rs 1,100 per sq.ft. The guideline value of Mocherry Northstreet is below this median.

• Mocherri West Street: Rs 660 per sq.ft (2024)
• Mocherri South Street: Rs 660 per sq.ft (2024)
• Mocherri Middle Street: Rs 660 per sq.ft (2024)
• Mocherri East Street: 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 Mocherry Northstreet

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty is charged at 7%, which totals Rs 46,200, and the registration fee at 2% amounts to Rs 13,200. Together, the total cost for these fees is Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mocherry Northstreet?

The Sub Registrar Office that covers Mocherry Northstreet 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 further assistance.

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

The guideline value plays a crucial role in property transactions in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with the regulatory requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mocherry Northstreet?

The current guideline value of Mocherry Northstreet 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 significantly from Rs 80 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 725%.

What is the stamp duty rate for properties in Mocherry Northstreet?

The stamp duty rate for properties in Mocherry Northstreet is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mocherry Northstreet?

The Sub Registrar Office for Mocherry Northstreet is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification for Mocherry Northstreet?

The land classification for Mocherry Northstreet is Residential Special Type - III, indicating its designated use for residential purposes.