Guideline Value for MOOKKATHAL STREET

Mookkathal Street guideline value

The current guideline value of Mookkathal Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mookkathal Street has changed

The guideline value for Mookkathal Street has seen several revisions over the years. The 2007 revision set the value at Rs 2,600 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in the 2012 revision. However, it then decreased to Rs 4,690 per sq.ft in the 2017 revision. The value rose sharply to Rs 7,000 per sq.ft in the 2023 revision and further increased by 10% to the current value of Rs 7,700 per sq.ft in the 2024 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 196%. The revisions for the years 2002 and 2003 do not have any figures recorded for Mookkathal Street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Mookkathal Street's 2024 guideline value of Rs 7,700 per sq.ft is above the median.

• Mookku Chetty Street: Rs 6,000 per sq.ft (2024)
• Mothilal Nehru Street 1st Street: Rs 4,400 per sq.ft (2024)
• Millers Road Lane: Rs 10,900 per sq.ft (2024)
• Millers Road Blind Lane: Rs 9,300 per sq.ft (2024)
• Millers Road: Rs 11,000 per sq.ft (2024)
• Murugappa Mudali Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mookkathal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, making the total fees together Rs 6,93,000. 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 Mookkathal Street?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately, reflecting the value of the property as per the government records. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Mookkathal Street?

The current guideline value of Mookkathal Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 196% over the years.

What are the stamp duty rates for properties in Mookkathal Street?

The stamp duty for properties in Mookkathal Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Mookkathal Street?

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

What is the land classification for Mookkathal Street?

The land classification for Mookkathal Street is Residential Class II Type - I, indicating its suitability for residential development.