Guideline Value for MOSQUE STREET

Mosque Street guideline value

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

The guideline value for Mosque Street has seen several revisions over the years. In 2002, the value was Rs 482 per sq.ft, which increased to Rs 731 per sq.ft in 2003, marking a 52% rise. The value continued to rise, reaching Rs 1,600 per sq.ft in 2007, a significant increase of 119%. By 2012, the value was Rs 4,000 per sq.ft, reflecting a 150% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 813%. There are no figures available for the revisions in years other than those listed 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 equal to the guideline value of Mosque Street.

• Mosque Pallam: Rs 4,400 per sq.ft (2024)
• Mosque Lane (Plot No.3a Plot No.17): 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 Street

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 is charged at 7%, which totals Rs 3,08,000, while the registration fee is 2%, amounting to Rs 88,000. Together, the total cost for stamp duty and registration fee is 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mosque Street?

Mosque Street falls under 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 details.

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

The guideline value plays a crucial role during property registration in Saidapet. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. This ensures transparency and compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Mosque Street?

The current guideline value of Mosque 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 increased from Rs 482 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 813%.

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

For a property valued at Rs 44,00,000, the stamp duty is Rs 3,08,000, and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Mosque Street?

Mosque Street is covered by 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.

What other streets in Saidapet have the same guideline value?

Other streets in Saidapet with the same guideline value of Rs 4,400 per sq.ft include Mosque Pallam and Mosque Lane (Plot No.3a Plot No.17).