Guideline Value for MOSQURE STREET (WARD -17)

Mosqure Street (Ward -17) guideline value

The current guideline value of Mosqure Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Mosqure Street (Ward -17) has changed

The guideline value for Mosqure Street (Ward -17) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and currently, it stands at Rs 660 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

When looking at the changes, the guideline value rose by 49% from 2017 to 2023, while it experienced a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Mosqure Street's current value below that median.

• M.T.C. Nagar (Pa): Rs 990 per sq.ft (2024)
• Mullai Nagar (Kr): Rs 440 per sq.ft (2024)
• Mgr Salai (Ward -6): Rs 2,200 per sq.ft (2024)
• Murugan Sintigate (Sa): Rs 440 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -15): Rs 550 per sq.ft (2024)
• Muthumariamman Koil Street (Ward -17): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Mosqure Street (Ward -17)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mosqure Street (Ward -17)?

The Sub Registrar Office that covers Mosqure Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Ninna Karai, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the selling price must be at least equal to the guideline value to ensure proper registration. This helps maintain transparency in property transactions and ensures that the government receives the appropriate taxes based on the guideline value.

Frequently asked questions

What is the current guideline value of Mosqure Street (Ward -17)?

The current guideline value of Mosqure Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and currently stands at Rs 660 per sq.ft in 2024.

What is the land classification for Mosqure Street (Ward -17)?

The land classification for Mosqure Street (Ward -17) is Residential Class I Type - III.

Where can I find the Sub Registrar Office for Mosqure Street (Ward -17)?

The Sub Registrar Office for Mosqure Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated for properties in Ninna Karai?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200.