Guideline Value for MOHAMMED ISMAIL STREET

Mohammed Ismail Street guideline value

The current guideline value of Mohammed Ismail Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Mohammed Ismail Street has changed

Over the years, the guideline value of Mohammed Ismail Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 500 per sq.ft, which rose to Rs 2,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 increased the value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Notably, there are years where the register has no figure for this street, specifically in 2002, 2003, and 2017. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 440% in the guideline value.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value of Mohammed Ismail Street.

• Moahana Mudali Street: Rs 3,200 per sq.ft (2024)
• Moahana Mudali Garden All Streets: Rs 3,200 per sq.ft (2024)
• Moahana Mudali Garden: Rs 3,200 per sq.ft (2024)
• Moorthinga Iyer 1st Street: Rs 4,300 per sq.ft (2024)
• Moorthinga Iyer 2nd Street: Rs 4,300 per sq.ft (2024)
• Moorthinga Iyer Hut Area: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mohammed Ismail Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value is Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mohammed Ismail Street?

The Sub Registrar Office that covers Mohammed Ismail Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This process ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mohammed Ismail Street?

The current guideline value of Mohammed Ismail Street is Rs 2,700 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 500 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 440% over the years.

What is the land classification of Mohammed Ismail Street?

Mohammed Ismail Street is classified as Residential Class III Type - II under the Purasaivakkam SRO.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Mohammed Ismail Street located?

The Sub Registrar Office for Mohammed Ismail Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.