Guideline Value for MOSQUE STREET

Mosque Street guideline value

The current guideline value of Mosque Street in Mylapore village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Mylapore SRO and is classified as Residential Class V Type - III.

How the guideline value of Mosque Street has changed

The guideline value for Mosque Street has undergone several revisions over the years. In 2002, the guideline value was Rs 783 per sq.ft, which increased to Rs 870 per sq.ft in 2003, marking an increase of 11%. Following this, there was a significant jump to Rs 3,000 per sq.ft in 2012, representing a 245% increase. However, the value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, which is an increase of 64% from the 2017 figure.

It is important to note that there are no figures available for Mosque Street for the years 2007 and 2023. Overall, from the initial figure in 2002 to the current value in 2024, there has been a substantial increase of 321%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Mosque Street is below this median.

• Mrc Nagar 1st Cross Lane: Rs 22,000 per sq.ft (2024)
• Mrc Nagar 2nd Cross Lane: Rs 22,000 per sq.ft (2024)
• Mrc Nagar Cross Lane: Rs 22,000 per sq.ft (2024)
• Mrc Nagar Cross Road: Rs 22,000 per sq.ft (2024)
• Mrc Nagar Extension: Rs 22,000 per sq.ft (2024)
• Mrc Nagar Main Road: Rs 22,000 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mosque Street?

The Mosque Street falls under the jurisdiction of the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is crucial during the registration process of property transactions in Mylapore. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when acquiring property.

When a property is sold, the guideline value helps determine the minimum sale price for registration purposes. This ensures that the government receives the appropriate taxes based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mosque Street?

The current guideline value of Mosque Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 783 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 321% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Mosque Street?

Mosque Street is covered by the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Mosque Street?

Mosque Street is classified as Residential Class V Type - III, indicating its designation for residential purposes within the Mylapore SRO.