Guideline Value for MOHAMMED USEN KHAN STREET

Mohammed Usen Khan Street guideline value

The current guideline value of Mohammed Usen Khan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO and is classified as Residential Class V Type - III.

How the guideline value of Mohammed Usen Khan Street has changed

Over the years, the guideline value of Mohammed Usen Khan Street has seen significant revisions. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking an 11% rise. The next substantial change occurred in 2012 when the value remained at Rs 3,000 per sq.ft, and this figure persisted until the 2023 revision, which also recorded Rs 3,000 per sq.ft.

The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 372%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Mohammed Usen Khan Street's 2024 figure below this median.

• Mosque Street: Rs 3,300 per sq.ft (2024)
• Mrc Nagar 1st Cross Lane: Rs 22,000 per sq.ft (2024)
• Mrc Nagar 2nd Cross Lane: Rs 22,000 per sq.ft (2024)
• Mrc Nagar Cross Lane: Rs 22,000 per sq.ft (2024)
• Mrc Nagar Cross Road: Rs 22,000 per sq.ft (2024)
• Mrc Nagar Extension: Rs 22,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mohammed Usen Khan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers Mohammed Usen Khan Street?

The Sub Registrar Office that covers Mohammed Usen Khan Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. 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 a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Mohammed Usen Khan Street?

The current guideline value of Mohammed Usen Khan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 699 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 372% since 2002.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total registration costs would amount to Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Mylapore Sub Registrar Office covers Mohammed Usen Khan Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification for Mohammed Usen Khan Street?

Mohammed Usen Khan Street is classified as Residential Class V Type - III, indicating its designation for residential use within the Mylapore SRO.