Guideline Value for MOSQUE PALLAM

Mosque Pallam guideline value

The current guideline value of Mosque Pallam is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Mosque Pallam has changed

The guideline value for Mosque Pallam has undergone several revisions over the years. The earliest recorded figure is from 2002, where it was Rs 482 per sq.ft. This value increased to Rs 731 per sq.ft in 2003, marking a 52% rise. By 2007, the guideline value saw a significant jump to Rs 1,300 per sq.ft, reflecting a 78% increase. In 2012, the value remained at Rs 4,000 per sq.ft, after a decrease of 33% from the previous revision in 2017, where it was Rs 2,680 per sq.ft. The next revision in 2023 raised the value to Rs 4,000 per sq.ft, and finally, the current value is Rs 4,400 per sq.ft, which is a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 813%. The register does not contain figures for revisions in the years not mentioned above.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Mosque Pallam.

• Mosque Lane (Plot No.3a Plot No.17): Rs 4,400 per sq.ft (2024)
• Mosque Street: Rs 4,400 per sq.ft (2024)
• Murahari Road: Rs 3,300 per sq.ft (2024)
• Nagalingam Street: Rs 3,300 per sq.ft (2024)
• Nara Lane: Rs 3,300 per sq.ft (2024)
• Narayanasamy 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mosque Pallam

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 3,96,000. 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 Mosque Pallam?

The Sub Registrar Office that covers Mosque Pallam is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Saidapet. It serves as a reference point for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees based on the size of the property. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Mosque Pallam?

The current guideline value of Mosque Pallam 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 seen significant changes from Rs 482 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 813% over the years.

What are the guideline values for other streets in Saidapet?

Other streets in Saidapet have a range of guideline values. For instance, Mosque Lane and Mosque Street both have a guideline value of Rs 4,400 per sq.ft, while Murahari Road, Nagalingam Street, Nara Lane, and Narayanasamy 1st Street are valued at Rs 3,300 per sq.ft.

What are the stamp duty and registration fees for property in Mosque Pallam?

For a 1,000 sq.ft plot at the guideline value of Rs 4,400 per sq.ft, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registration for Mosque Pallam?

The Chennai South Joint II Sub Registrar Office handles property registration for Mosque Pallam, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.