Guideline Value for MOSQUE 1 STREET

Mosque 1 Street guideline value

The current guideline value of Mosque 1 Street in Mambalam village, under the Thiyagaraya nagar SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class III Type - III.

How the guideline value of Mosque 1 Street has changed

The guideline value for Mosque 1 Street has seen several revisions over the years. In 2002, the value was Rs 511 per sq.ft, which increased to Rs 567 per sq.ft in 2003, marking an increase of 11%. By 2007, the value surged to Rs 1,000 per sq.ft, reflecting a significant increase of 76%. The guideline value then rose to Rs 4,000 per sq.ft in 2012, a remarkable increase of 300%. However, from 2012 to 2017, it decreased to Rs 2,680 per sq.ft, showing a decline of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise.

There are no figures available for the revisions in years other than those listed. The overall increase from 2002 to 2024 is 761%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, indicating that the guideline value for Mosque 1 Street is below this median.

• Mosque 2 Street: Rs 4,400 per sq.ft (2024)
• Mosque 3 Street: Rs 4,400 per sq.ft (2024)
• Mosque 4th Street: Rs 4,400 per sq.ft (2024)
• Model Hutmunt Road: Rs 7,700 per sq.ft (2024)
• Nandhi Loop Road: Rs 7,700 per sq.ft (2024)
• Narasimhan Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Mosque 1 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total Rs 3,96,000. Please 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 calculations.

Which Sub Registrar Office covers Mosque 1 Street?

The Sub Registrar Office that covers Mosque 1 Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process for property transactions in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives due revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. These fees are crucial for the legal transfer of property ownership and must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Mosque 1 Street?

The current guideline value of Mosque 1 Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 511 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 761%.

What is the land classification for Mosque 1 Street?

The land classification for Mosque 1 Street is Residential Class III Type - III.

Where can I find the Sub Registrar Office for Mosque 1 Street?

The Sub Registrar Office for Mosque 1 Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Mosque 1 Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.