Guideline Value for MOSQUE STREET

Mosque Street guideline value

The current guideline value of Mosque Street in Padi village, under the Villivakkam SRO, is Rs 4,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - II.

How the guideline value of Mosque Street has changed

The guideline value for Mosque Street has undergone several revisions over the years. Starting from the 2002 revision, the value was set at Rs 500 per sq.ft. It increased to Rs 565 per sq.ft in 2003, marking a 13% rise. The value then saw a significant increase to Rs 900 per sq.ft in the 2007 revision, which was a 59% change. In 2012, the guideline value was revised to Rs 4,500 per sq.ft, reflecting a decrease of 33% from the previous figure.

Moving to the 2017 revision, the value increased to Rs 3,015 per sq.ft, which was a 49% rise. The 2023 revision set the value at Rs 4,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 4,900 per sq.ft, a 9% increase. There are no other revisions with figures for this street in the register.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as per the 2024 revision. The median value for these streets is Rs 3,800 per sq.ft, indicating that Mosque Street's 2024 figure is above this median.

• Mogappair Road (Estate Road): Rs 9,900 per sq.ft (2024)
• M.T.H.Road: Rs 8,200 per sq.ft (2024)
• M.M.M.Hospital Road (Bazaar Road): Rs 9,900 per sq.ft (2024)
• M.G.R.Nagar (Near Canal-Slums): Rs 2,200 per sq.ft (2024)
• Mettukulam (M.T.H.Road): Rs 8,200 per sq.ft (2024)
• Mathiazhagan Nagar: Rs 2,500 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 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. 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 more details.

Which Sub Registrar Office covers Mosque Street?

The Sub Registrar Office covering Mosque Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Padi. It serves as a benchmark for determining the minimum sale price of properties, ensuring that transactions are conducted at fair values as per government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware of the guideline value to avoid discrepancies 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 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 880% over the years.

What is the land classification for Mosque Street?

The land classification for Mosque Street is Residential Class III Type - II, indicating its suitability for residential purposes.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,43,000.