Guideline Value for MOOKKU CHETTY STREET

Mookku Chetty Street guideline value

The current guideline value of Mookku Chetty Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of Mookku Chetty Street has changed

The guideline value for Mookku Chetty Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 206%. However, it then decreased to Rs 3,685 per sq.ft in 2017, a drop of 33%. The value climbed again to Rs 5,500 per sq.ft in 2023, and most recently, it has been revised to Rs 6,000 per sq.ft in 2024, reflecting a 9% increase.

There are no figures available for Mookku Chetty Street in the revisions of 2002 and 2003. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 233%.

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. Mookku Chetty Street's 2024 value is above this median.

• Mookkathal Street: Rs 7,700 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 Mookku Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Mookku Chetty Street?

The Sub Registrar Office that covers Mookku Chetty Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the property registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Mookku Chetty Street?

The current guideline value of Mookku Chetty Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 233% over the years.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with Mookku Chetty Street's value being above this median.

What are the stamp duty rates applicable?

The stamp duty rate applicable is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for Mookku Chetty Street?

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